FAMAGUSTA GAZETTE – The Central Bank of Turkey and major bank representatives convened yesterday to address market instability following the arrest of opposition figure Ekrem Imamoglu.
Financial experts voiced concerns over the market’s reaction, noting that the Central Bank intervened by injecting $12 billion on the first day of the exchange rate surge. Additional foreign exchange sales of $14 billion on Thursday and Friday brought the total intervention to $26 billion within three days.
The Turkish Banks Association assured that “all available tools will continue to be used effectively and decisively within the framework of market rules to maintain stability.”