Page 42 - TURKRptFeb22

The central bank’s net FX position (net reserves minus the Treasury’s FX account at the central bank), by @e507. Money coming from exporters and shifting via the new deposit scheme (KKM) is supporting the net FX position. However, there is still some leakage. It is thought this leakage is burnt to support the lira, with Turkey still needing a fresh $60bn to rescue the parlous reserves situation of its central bank.
42 TURKEY Country Report February 2022 www.intellinews.com