Turkey has taken measures against the financial wave caused by the Iran war. 12 billion dollars have been spent to protect the lira.
Modern.az reports, citing foreign media, that Turkey has attempted to maintain the stability of the lira by spending 12 billion dollars (approximately 15% of its foreign exchange reserves) within a week.
This occurred against the backdrop of global currency fluctuations arising from the war in Iran.
The Central Bank of Turkey tightened liquidity, and banks conducted dollar sales. This allowed the lira to remain relatively stable, unlike other developing currencies.
It should be noted that the reserves of the Central Bank of Turkey amount to 78.4 billion dollars. Together with gold, this amount is approximately 200 billion dollars.
Analysts believe that the current financial situation is sufficient to continue currency support operations. However, long-term geopolitical upheavals could increase risks for the Turkish lira and government bonds.
