With the sharp decrease in reserves of the Central Bank (CBRT), TL continues its daily depreciation against the dollar. The last trading day before the second round of the elections, USD/TL started the new day by testing the historical peak of 20.34.
According to these data, TL has lost 2.1 percent of its value against the dollar compared to the first round of the elections, while it has lost 5.9 percent since the earthquake and 6.4 percent since the beginning of the year.
Republican People’s Party (CHP) Istanbul Deputy Özgür Karabat said on Twitter that the rise in the dollar would continue if Erdoğan was elected, with the headline “last exit before the bridge”.
Reminding that the dollar has exceeded the level of 20 liras, Karabat said that if Erdoğan is elected, the dollar will rise to 30 liras. “Erdogan and Turkey have nowhere to go,” Karabat said.
Karabat called for Kemal Kılıçdaroğlu, the Presidential Candidate of the Nation Alliance, to “vote” for the 28 May elections.
‘IF ERDOĞAN IS ELECTED, IT WILL BE 30 TL’
CHP’s Özgür Karabat’s statements are as follows:
“The dollar has exceeded 20 TL. If Erdoğan is elected, it will be 30 TL in a short time. The Central Bank has no cash at the moment. Reserves are minus 200 million dollars, even with swaps and money entrusted to him. Tayyip Erdoğan and his supporters divided the society in two. Because of polarization. Citizens look at each other as if they hate each other. There is no trust in the future of the country. I’m warning: Erdogan and Turkey have nowhere to go. Why? Our net reserve has already been negative for 4 years. Trust money was showing positive. Now even they are not enough. Net except swap. reserves -60.3 billion dollars!”
‘THE GOVERNMENT CONSUMED HOW MUCH MONEY THEY HAVE’
“The decrease in reserves in the last 2 months is $25 billion! No matter how much you spend, it doesn’t work. You can’t stop the increase in the dollar, you can’t control inflation. You are trying to float the ship thanks to tourism revenues, but that ship has already put it on the rocks! Foreign debt to be paid within a year is 205 billion dollars! This does not include billions of dollars of delayed energy payments to Russia. This does not include the payments of build-operate-transfer projects whose contracts are hidden. They have used up all the money in the state’s coffers. The key to the exit from the economic crisis that will last for decades is only with Mr. Kemal Kılıçdaroğlu. Please Vote for Kılıçdaroğlu on Sunday, May 28.
LAST EXIT BEFORE THE BRIDGE
1-Dollar has exceeded 20 TL. If Erdogan is elected, it will be 30 TL in a short time.
The Central Bank does not have cash at the moment.
Even with swaps and deposits, reserves are minus $200 million.
— Özgür KARABAT (@OzgurKarabatCHP) May 26, 2023