Rabobank: The steps of the center and the sale of foreign exchange are not enough



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Rabobank strategist Pyotr Mots stressed that the decline in the exchange rate is a short-term correction, saying that the steps of the Central Bank (MB) and the sale of foreign currency by state banks will not be enough, and that the risks should be Eliminated.

Photo: Reuters

After the election, tightening up the expert after depreciation of the Lira & # 39; Dollarization deterrent & # 39; Required steps. On top of that, with the foreign exchange sales made by the public banks in Asian markets at midnight, the dollar / TL rebounded to 6.05 in the Asian session. At around 18:38, the dollar is just under 6.08 against the Lira.

Sources informing Reuters that the state banks, especially by public banks in the world after midnight, said that more than $ 1 billion in foreign currency sales.

Dollar sales of state banks did not have a significant effect on exchange rates. According to a report by Bloomberg, Asian markets do not want to name two processors & # 39; caught off guard & # 39; He said.

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Analysts have identified these & # 39; Reappeared & # 39; SpecifyingThat Kulan instead of urgently needed reforms, Erodougan will use all his resources to buy Istanbul, He said.

Kaldırıl After tightening the tal was removed in a poor time

"MB is clearly watching the market closely and is willing to take the step, but removing it at a poor time, if necessary, could raise interest rates negatively affected credibility" Said the saying, said:

It means that the market will not be afraid to try to protect the point. If the CCT does not prove that it will act as stable and increase interest rates than in September, the majority of market participants can be seen as an opportunity to buy dollars / TL in anticipation of further upside in an internal risk environment.

Reuters Analysis: Rejuvenating TL assets is a good opportunity but a lot of uncertainty

The movements of the center did not reduce the dollar's fire: the exchange rate was above 6.13

Iki There is something specific about the market: US. US dollar / TL exceeded 6.24, two two moves by center PI

Dollar / TL endures 6.20 after ISC decision

Reuters announced: State banks sold $ 1 billion at midnight

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