While the dollar continues to break record after record, the government does not stand idle. The dollar will fall to 9 TL overnight. That plan has leaked, this time it’s going to explode.
The Dollar Rate had to take a break from the momentum it gained in December last year with the KKM announced by the government on 20 December. With this move of the state, the dollar lost 8 TL in one night. However, the Dollar, which has recovered in the past months, continues to appreciate against the TL, as it does against all currencies.
That plan has leaked! The dollar will fall to 9 TL in one night, it turns out that this is the great news. The interest rate decision taken by the Central Bank in the direction of reduction, external pressures, the risk brought by the Russia-Ukraine war and many other issues cause the dollar rate to rise. Despite the high exchange rates and inflation, it was a matter of curiosity where the meaningless behavior of the government, which put pressure on the Central Bank to cut interest rates, would lead to, when the expected news came. The government is preparing to make a new move that will reduce the dollar by 9 TL overnight.
ECONOMY MANAGEMENT IS IN PANIC
Due to the economic crisis that started in Turkey, the high cost of living and, of course, high inflation and exchange rates, there is a panic atmosphere right now. The depreciation of TL against the Dollar since the beginning of the year has exceeded 26 percent. The government’s refusal to give up on interest continues to trigger this loss.
However, this stubbornness was not empty, it turns out that the government had already found the formula to reduce the dollar by 9 TL in one night. The government, which dropped the dollar by 8 liras overnight with its intervention last December, is preparing to make another move. This time, the dollar will fall to 9 TL overnight.
BANKS WILL SUPPORT
With the KKM announced by President Erdogan last December, the dollar turned upside down overnight. This time, the government will receive support from banks. In other words, it will ask banks to bring their foreign currency to Turkey. According to the information received, the Central Bank has already given instructions to the banks in this regard. However, there is an expected date.
MONEY WILL COME IN OCTOBER
Banks are expected to bring foreign currency to Turkey in October. However, experts have some concerns about whether this move will be enough. As you know, KKM was effective in lowering the Dollar in the first stage, but then, as the interest rate cut continued, the Dollar recovered and reached an even higher level than on 20 December. Here, experts say that the new move to be made will cause a similar result. According to experts, there is no need to do these, just increase the interest rate. However, President Erdoğan recently stated that he wanted to reduce the interest rate to single digits and even gave time until the elections. So for now, it seems like the fall of the dollar rate is just a dream.