17:11 - 10.12.2021

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December 10, Fineko/abc.az. The Central Bank of Turkey intervenes in the foreign exchange market due to unhealthy pricing of exchange rates.

"In connection with the unhealthy prices observed in exchange rates, there is a direct interference in the direction of sales in the market," a statement posted on the TCMB website says.

On 1 December, the Central Bank of Turkey announced intervention in the market for the first time since 2014.

According to Bloomberg, the Central Bank has sold about $700 million of foreign currency to the market with direct intervention since 1 December.

TCMB also carried out a second intervention on the foreign exchange market on 3 December.

In the second intervention, information was received about the sale of currency for $300 million.

While the dollar/TL exchange rate does not react sharply to TCMB interventions, it tends to grow, although weak. Today's dollar/TL exchange rate has updated the record, reaching 13.9542.