USD/TRY which has exceeded the 15.00 limit for the first time after 4 ½ months, continues to increase with the impact of the globally strengthened USD index. The TRY devaluation is expected to continue in the national economy, which is open to external shocks thanks to its high foreign exchange (FX) need, low reserves and...
Latest News:
Macroprudential measures can’t replace monetary policy: TUSIAD
Digital transformation of Chinese commercial banks: OPINION
The sustainable advantages of purchasing second-hand products
It’ll be enough to manage until the election!
What matters on Wednesday, January 25
Startups receive USD 1.6bn funding in 2022
Domestic tourism expenditures skyrocket
Consumer confidence hits 16-month high
What matters on Monday, January 23
Izmir to hold an economy congress for the second century of the republic
Central Bank keeps interest rate steady at 9%
What matters on Wednesday, January 18
What matters on Tuesday, January 17
Budget deficit hits TRY 139.1bn in 2022
‘The climate crisis is on top of our agenda’
What matters on Friday, January 6
Economy to retract in 1H, recover in 2H
What matters on Thursday, January 5
Has anyone seen a decrease in prices?
Tag: FX-protected TRY deposit account
We are determined to reduce inflation: Nebati
Treasury and Finance Minister Nureddin Nebati stated following the Consultation and Evaluation meeting held with the Bursa Chamber of Commerce and Industry that the government is determined to reduce inflation permanently and maintain price stability. Nebati also said they expect a permanent decrease in inflation at the end of the year. He also added that...
What does an interest rate of 8.6% mean?
BY ISMET OZKUL The interest rate for the latest bond issuance by the Treasury to the international markets was 8.625%. This rate quadruples the interest rate in the U.S. market. We’ll pay USD 947m for a USD 2bn borrowing with a maturity of 5.5 years. While we insist on a low-interest policy in Turkey, we...
The cost of the war will be seen in March: OPINION
BY ALAATTIN AKTAS It would be optimistic to think that the troubles that will be caused Russia-Ukraine in the Turkish economy will be limited to just a few weeks. TOURISM GOES OFF THE RAILS Last year, 4.7 million tourists from Russia and 2.1 million from Ukraine came to Turkey. The share of Russian tourists in...
Should FX-protected TRY deposit accounts draw interest?
BY TALIP AKTAS How will the Treasury meet the cost if the Foreign Exchange (FX)-protected TRY deposit accounts draw interest within the next three months. The total deposit accounts hovered around TRY 5.19tr on January 1, according to the Central Bank. TRY 4.9tr is held by real and legal persons residing in Turkey. 60% of...