Türkiye -Markets establish the concentration of concentration on demand for the dollar

Turkish markets showed signs of stability during Thursday’s intercourse, after the authorities took measures to compensate for any increase in demand for the dollar in the wake of the sudden detention of the most important political competitor of President Recep Tayyip Erdogan. With the growing bets of many foreign investors in Turkey after police attack on the home of the Mayor of Istanbul Akram Imamoglu, the focus is now changing in the reaction of the local population to the latest campaign of oppression against Erdogan’s 22 -year -old rule. In turn, the central bank confirmed that it was monitoring and interfering with the foreign exchange markets if necessary. The cohesion of Turkish assets against sales pressure, the exchange rate of the Turkish lira dropped 0.3% to 38.00 against the dollar at 13:15 in Istanbul, after the decline by up to 11% in the chaotic trading session. The main stock index rose 1.1%, despite the banking index, by 4.6%, after the 9.9%losses Wednesday. “It seems that the flurry of sales panic has calmed down by foreigners and locals,” Treasury Chief of the Treasury said at the Mufg Turkey Bank in Istanbul, adding that local investors’ claim to buy the dollar is “the most important issue that policymakers should address.” deny. This step caused the fear of turmoil, as Turkish authorities limited access to Internet services, some communication and social media services have blocked, and protests or protests have been banned by the entire Istanbul -Governor. The impact of political unrest in Turkey, political turmoil is a blatant reminder of the risks associated with investment in Turkey, which has been seen that a period of relative stability in the market under the supervision of Finance Minister Mohamed Shimashk, a former banker responsible for the effects of years of unconventional economic policy. These disorders were also expensive for Turkey, as the authorities said they spent about $ 9 billion on Wednesday to support the lira in the aftermath of the arrest of Imamoglu. However, investors believe that political turmoil does not pose a danger – so far – on the economic program led by Shimchk. This means that the additional sale of foreign investors is at least “likely to be limited”, according to Clemens, his passion, the economist at Goldman Sachs in a report. “Investors can be reassured that the news is not related to the economic policy and the team responsible for its implementation,” he said. External futures for one day have dropped to 55% of their highest level at 175% earlier, indicating that external pressure is reduced to sell the lira. Turkish government bond yields increased by about 47 basis points for 31.21%for ten years in Lira, after falling by 121 basis points earlier. Gurgon Powers of “Columbia ThreadNeedle” in London said it is still “very constructive” about the proposed investments in Lira. The revenue in the category of low waste category is expected to be in the next twelve months, assuming the commitment of the central bank to its strategy in managing inflation partly by preventing the rapid decline of the value of the currency. He added: “But it really relates to managing the risks of this remaining challenge, which cannot be denied.”