Prof. Dr. Hakan Kara shares: Did the CBRT sell 20 billion dollars in foreign currency in one month?

Former CBRT Chief Economist Prof. Dr. Hakan Kara shared a chart on his social media account showing how much foreign currency the Central Bank has sold in the last month. Kara stated, "It appears that approximately 20 billion dollars in foreign currency has been sold."

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Prof. Dr. Hakan Kara shares: Did the CBRT sell 20 billion dollars in foreign currency in one month?

Former Chief Economist of the Central Bank of the Republic of Türkiye (CBRT) Prof. Dr. Hakan Kara announced in a post on his X account how much foreign currency the Central Bank has sold in the last month using a chart he prepared.

Kara's post is as follows:

"It appears that approximately 20 billion dollars in foreign currency has been sold net in the last four weeks to curb the exchange rate"

It appears that approximately 20 billion dollars in foreign currency has been sold net in the last four weeks to curb the exchange rate. pic.twitter.com/GOH2zLLHJ8
— Hakan Kara (@ali_hakan_kara) March 19, 2024