After experiencing a historic low against the US dollar, the Turkish Lira has risen 6% at $12.84 to the US dollar.
The government-implemented schemes to raise its value have led to the increase.
The role of the Turkish central bank
The Turkish central bank stated that it supports the conversion of foreign deposit accounts into Lira deposit accounts to initiate reverse dollarisation.
Furthermore, the bank mentioned that it will calculate both the opening and the closing of lira deposit accounts. In this way, it will pay the owners the highest amount. These accounts have three to twelve-month maturities, according to the bank.
On December 20, the governmental support raised the value of the Lira to 25%. This, in turn, proved to be its lowest in terms of the trading volume. Pa...
