Press Release on Market
Developments
| 23 November 2021 | No: 2021-50 |
The Central Bank of the Republic of Turkey implements floating exchange rate regime and has no commitment to any exchange rate level. Exchange rates are determined by supply and demand conditions according to free market dynamics. Under certain conditions, the Central Bank may only intervene in excessive volatility without aiming any permanent direction. In FX markets, unhealthy price formations are being observed that are unrealistic and completely detached from economic fundamentals.
The CBRT deemed it necessary to warn our companies and citizens against possible losses by trading at values completely detached from economic fundamentals under extremely volatile market conditions.
Contact
For further information, you may send an e-mail to [email protected].
Türkiye Cumhuriyet Merkez Bankası
(Central Bank of the Republic of Turkey)
Head Office
Hacı Bayram Mahallesi
İstiklal Caddesi 10 06050 Ulus Altındağ / Ankara
+90 (312) 507 50 00
www.tcmb.gov.tr
Disclaimer
Central Bank of the Republic of Turkey published this content on 23 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2021 15:09:01 UTC.
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