According to a report in the Turkish newspaper Zaman on Saturday, the central bank of Turkey (CBRT) totally stopped supplying foreign currency to state economic institutions (SEEs) in September.
The Turkish Central Bank “did not sell foreign dollars to state-owned firms in July and August either,” claims the same daily.
Only $105 million in foreign currency were provided by the Turkish central bank in June.
According to estimates, the state-owned businesses’ requirement for foreign currency has lessened as a result of the summertime relaxation of the energy payment schedule.
In the first half of 2022, the central bank sold about $18 billion to state-owned businesses.
The Petroleum and Pipelines Corporation (Botas), a natural gas importer, comes in first place for sales of foreign currency.
Over the last five years, BOTA has purchased foreign exchange worth more than $45 billion.
Additionally, it is a secret how much the central bank sells to state-owned businesses, particularly BOTA and the Soil Products Office (TMO).
Allegations that foreign money is being traded for less than market value remain unaddressed while opaque transactions continue.
Turkish newspaper “Zaman” is the source.
Journal: Turkey’s central bank no longer offers foreign currency for sale
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