17:11 - 10.12.2021
December 10, Fineko/abc.az. The Central Bank of Turkey intervenes in the foreign exchange market due to unhealthy pricing of exchange rates.
"In connection with the unhealthy prices observed in exchange rates, there is a direct interference in the direction of sales in the market," a statement posted on the TCMB website says.
On 1 December, the Central Bank of Turkey announced intervention in the market for the first time since 2014.
According to Bloomberg, the Central Bank has sold about $700 million of foreign currency to the market with direct intervention since 1 December.
TCMB also carried out a second intervention on the foreign exchange market on 3 December.
In the second intervention, information was received about the sale of currency for $300 million.
While the dollar/TL exchange rate does not react sharply to TCMB interventions, it tends to grow, although weak. Today's dollar/TL exchange rate has updated the record, reaching 13.9542.
