Ali Hakan Kara: Central Bank has sold 18 billion dollars since the beginning of September

Economist Ali Hakan Kara stated that the CBRT has sold 18 billion dollars since the beginning of September due to the deterioration of domestic and external conditions.

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Ali Hakan Kara: Central Bank has sold 18 billion dollars since the beginning of September

Economist Ali Hakan Kara made an assessment regarding the recent foreign exchange transactions of the Central Bank of the Republic of Turkey (CBRT).

In a post on his social media account, Kara stated, "Since the beginning of September, as the climate has deteriorated both domestically and internationally, the central bank has had to sell 18 billion dollars."

Chart showing the CBRT's net foreign exchange purchases on a weekly billion-dollar basis. — The chart of the CBRT's net foreign exchange purchases included in Kara's post.

The chart included in the post showed the CBRT's weekly net foreign exchange purchase data in billions of dollars. The final section of the chart points to the period after September, highlighting that foreign exchange sales have come to the fore.

Kara's assessment comes at a time when exchange rates, reserves, and monetary policy steps are being closely monitored in the markets.