Minister of Treasury and Finance Nureddin Nabati, yesterday, in a statement to a television channel “We observe that there is an entry into Turkey with direct investments and various instruments, where is the reflection of this? In BIST. The amount entering BIST is over 300 billion dollars” said. However, at present, the total value of Borsa Istanbul (BIST) is just over $188 billion. Even Turkey’s gross domestic product is around 800 billion dollars.
‘In that case, the dollar would instantly decrease to 10 TL’
Economists and banking experts drew attention to the fact that if there was such an inflow of money, foreigners would have bought Borsa Istanbul and left on it for 112 billion dollars. “Thus, the government would decide for an early election the next day. If such a thing happened, the banks would also fly because that money would go around and enter the stock market, dollars would gush out of the banks, and the dollar rate would instantly decrease to 10 TL. they commented.
financial markets specialist Iris Grasshopper On the other hand, Nabati made the following comment on his Twitter account after he advised investors to enter the stock market against inflation in the same broadcast:
“Now the minister is giving investment advice to the citizen. What will you say if the investor makes a loss? He hasn’t been able to straighten his back since the day you said ‘this is the bottom of the TL’. The last time, former Turkey Wealth Fund President Kozal recommended it, the stock started to fall rapidly from the next day, the investor was at the same price. He had waited 6 months for it to come in. At the moment, they are at a loss of 61 TL in real terms, according to TUIK, of course.”
Total money entering DIBS and BIST in 2 weeks is 367 million dollars
According to the securities statistics published by the Central Bank of the Republic of Turkey (CBRT), an additional $272 million was entered into the government domestic debt securities (GDDS) and stock market this week. Thus, the 2-week foreign currency inflow became 366.8 million dollars.
367 million dollars entered the markets in 2 weeks: ‘dominant election’ rally in the stock market