At how many TLs will BRSA Move reduce the dollar?


At how many TLs will BRSA Move reduce the dollar? – Paramedia

The BRSA made a decision after the close of markets on Friday and announced that companies with 15 million pounds in their safes cannot use bank loans.
While this decision brought the dollar from the 17,350 level to the 16,600 level, it was also a controversial issue.
Why did the BRSA make this decision earlier?
The BRSA actually had to make this decision. You need to look at the topic objectively. Because companies have bought foreign currency, bought luxury housing and deducted their interest from taxes, instead of investing the loans they have used from banks, including KGF loans, for the past 2 years.
This wheel has undergone an acceleration since September last year, that is, after the historic error of reducing the Central Bank’s interest.
Currently, inflation in Turkey is 73 percent, interest on bank deposits is 16 percent, interest on loans is around 30 percent. Today, even the company that uses 30 percent of the bank’s installment loan, not to mention 40, is profitable. Because the interest on the loan he received is 33 points lower than inflation.
Businesses have even made money by taking this loan and protecting it from the currency. Although the banks were aware of this wheel, they all actually turned a blind eye to this unfair profit.
While the AKP administration’s rate cut for stubborn reasons has dragged Turkey into complete economic disaster, it has also initiated a period of payback for those who could access credit.
They realized that this is no longer sustainable and have stopped this wheel.
This is the only explanation.
What will happen next? Will the dollar fall?
First of all, let me tell you that the reason for the dollar rise is not because someone took the dollar and put it under the pillow or in the bank. The problem is in the policies implemented by Turkey.
Why did these companies take dollars? For opening the door to this. If I hadn’t consistently lowered interest rates in an environment where Saudi Arabia was also raising interest rates, the dollar today would have been 9 pounds at most. Inflation, you didn’t know, is 20-25 percent. If I had done it like the Central Bank of other countries did, it would have fallen.
This was not done. He was fought with the whole world. The legal system has become controversial.
As such, no one has come to invest or bring money into your country. Look, even the AKP expats who said “Germany is jealous of Turkey” on their YUVAM account didn’t send any money.
What does this mean?
Nobody trusts your country and its policies.
The coffers of your country are negative for 60 billion dollars.
Even a week ago, world-famous shopping giant eBay closed the store and fled without looking back.
Who brings the money to this country?
Who would come and invest in your shitty policies?
Who can come to your country relying on what by traveling in the 90s with your country’s risk premium?
Should they trust the Treasury Minister who says the economy is the light in the eye?
Trust me at his investor meeting in London 5 months ago. Should they trust the minister because the dollar will not exceed 13,500 lire?
For him, this vesting measure will reduce the dollar for a day or two, but it will harm the country more than it will bring.
Turkey now has only one recipe for salvation. That is, the country’s healthy way to go to elections as soon as possible.

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