Reuters: The Central Bank of Turkey's net foreign currency position decreased by approximately $27 billion in just three days.

Foreks - The net foreign exchange position of the Central Bank of the Republic of Turkey (TCMB) decreased by approximately $27 billion in just three days. According to data reported by Reuters, TCMB's net foreign exchange position fell significantly during a three-day period starting on March 19. This decline is attributed to sales made in response to the increased demand for foreign currency following the detention of Istanbul Mayor Ekrem İmamoğlu.

The sharp decrease in the net foreign exchange position highlights the pressures facing the Turkish economy amid political tensions. As market dynamics shift, the implications for foreign exchange stability and overall economic health are crucial for stakeholders to monitor closely.