Foreign investors flee: Central Bank's foreign currency sales revealed following İmamoğlu operation

Economic reports indicate that there has been a significant outflow of foreign investment from Turkey since March 19, when Ekrem İmamoğlu was taken into custody. During this period, foreign investors sold a net 12.5 billion dollars from their portfolios in Turkey. The largest outflow was seen in domestic debt securities with 6.9 billion dollars, while 4.6 billion dollars were sold in external debt securities and 1.2 billion dollars in stocks.

CENTRAL BANK'S FOREIGN CURRENCY SALES

According to the report by Cumhuriyet, although foreign investors have turned toward purchasing stocks and domestic debt securities in the last two weeks, they have continued their exit from external debt securities. During this process, the total portfolio of foreign investors decreased by 21.1 billion dollars, falling from 133.7 billion dollars to 112.6 billion dollars. The distribution of the portfolio consisted of 29.4 billion dollars in stocks traded on the stock exchange, 12.5 billion dollars in domestic debt securities, and 70.9 billion dollars in external debt securities. It is alleged that the Central Bank sold approximately 57 billion dollars in foreign currency to keep the exchange rate under control.

INCREASE IN ENFORCEMENT FILES

The economic report also drew attention to the increase in the number of files arriving at enforcement offices. Between January 1 and May 23, the number of new files received by enforcement offices via UYAP increased by 7.4 percent compared to the same period of the previous year, reaching 4 million 24 thousand. The total number of pending files rose to 23 million 525 thousand as of May 23, marking a net increase of 1 million 510 thousand over the last year.

News Source: 12punto