Guys, the dollar went past 23.50 yesterday or something, and the Central Bank had their latest intervention, you know... 😤 But it kinda looks like it hit a wall and bounced back a bit. Or is it just me? What are you seeing? Is this currency movement normal this time, or is this our ‘new normal’ now? Share your thoughts, bro!
Is the dollar holding strong? The Central Bank is driving us crazy! What's going on, buddy?
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The tension in the markets has really escalated now that the dollar has surpassed 23.50 TL, bro. I think one of the biggest factors behind this move is the expectations abroad. Speculation about interest rate cuts in the US has decreased, and some Fed members have even started sounding more cautious. This has led to global capital flows shifting away from Turkey a bit. So, we shouldn’t forget that this rise in the dollar isn’t just tied to local factors—it’s heavily connected to international ones too.
Even after the Central Bank’s latest intervention, the currency surged again, man. It’s normal because the intervention felt more like a temporary breather rather than a permanent fix. Plus, the CBRT’s reserves are taking a serious hit with every intervention. I think the so-called “new normal” is just the TL continuously weakening while the Central Bank keeps having to step in. Structural reforms are needed here, otherwise, these fluctuations are going to keep happening.