Everyone is trying to find answers to questions such as why the dollar is rising and what is happening to the dollar. Economist Atilla Yeşilada’s new commentary on the dollar is disturbing. Atilla Yeşilada estimated the course of the dollar using the phrase “It will explode no later than summer…”. If we look at the dollar rate before Atilla Yeşilada’s comment on the dollar; the dollar exchange rate started the day again above 14 TL. The dollar rate is currently trading at the level of 14.82 TL. So what will happen to the dollar rate? Here are Atilla Yeşilada’s striking dollar rate predictions… On the other hand, while the developments that US President Joe Biden will announce new sanctions decisions tomorrow cause the dollar to price up, it is curious whether the rate of the dollar will fall or the dollar will explode.
ATİLLA WARNED FOR DRY DOLLAR IN GREEN
As the malaise for the dollar rate continues, the tension on the dollar is steadily increasing day by day. Famous economist Atilla Yeşilada, on the other hand, used striking expressions for the dollar rate, next to him last night. Atilla Yeşilada made critical assessments on the dollar rate, as well as the currency protected deposit system (KKM). Responding to the question of how much the dollar rate will be, Atilla Yeşilada highlighted the terrible level of the dollar rate, drawing attention to the months of May-June. Recalling that the Central Bank’s year-end dollar rate forecast is 16.50, Atilla Yeşilada said that he finds this figure too optimistic in the dollar rate.
ATİLLA YEŞİLADA DOLLAR DRY FORECAST: THE DOLLAR WILL EXPLODE IN SUMMER
Giving the date of the dollar rate, Atilla Yeşilada drew attention to a figure between 18 and 20 TL for the estimate of the dollar rate. Atilla Yeşilada continued his interpretation of the dollar rate as follows:
“If it hadn’t been for the war in Ukraine, if our current account deficit hadn’t been a burden for us, and if it hadn’t been for people’s psychological malaise, we could have survived this year with this system, but I don’t think so. I don’t see such hope anymore. In other words, if it doesn’t explode in May, June, the exchange rate will explode again in the summer. survey of CBRT expectations, participants’ estimate of the year-end dollar rate is 16.5. I find that a little too optimistic. I have a target of a dollar rate between 18 and 20 more on my mind. They invented the KKM last time after this point, which will stop my October spike. There may be another rabbit in the hat. If there isn’t other rabbits in the hat, you’ll go through currency control. It doesn’t stop once it’s gone.
Atilla Yeşilada’s full commentary on the KKM and the dollar rate is as follows:
“At the moment, I’m not saying that the program survives, see running. This KKM is the only survivor, and the government knows very well that the reserves of the CBRT will not be enough to prevent the tsunami that will occur here if this money is converted back into foreign currency. So it boiled down to something like a bad habit, a drug addiction of sorts. Whatever the cost, the KKM will continue and the foreign currency from there will enter the resources of the CBRT, the exchange rate will try to prevent the appreciation of the dollar and even the euro by constantly interfering there , so citizens will be given a second incentive to switch to KKM. These are programs that can work in a day-to-day or long-term context, but the point is that you are treating the pain, not the disease. In other words, whatever cancer or ulcer or migraine is in the body, it spreads After all, unless you can keep up with inflation, unless you can generate more budget surpluses, unless you increase Turkey’s production, it will explode at some point.
If it hadn’t been for the war in Ukraine, if our current account deficit hadn’t been the burden it imposed on us, and if it hadn’t been for people’s psychological malaise, we could have survived this year with this system, but I no longer see such hope. In other words, if it does not explode in May, June, the exchange rate will explode again in the summer. In the CBRT Expectations Survey, participants’ year-end dollar rate estimate is 16.5. I find that a little too optimistic. I have a goal of a dollar rate between 18 and 20 more in my mind.
They invented the KKM last time after this point, where it will stop at the peak level from October. There may be another rabbit in the hat. If there are no more rabbits in the hat, you will proceed to currency control. He doesn’t stop once he’s gone.
So it should be considered a poker strategy. You have in front of you a 500,000 lira token. The poker player in front of you still has 10,000 Lira chips, you can rest 50 times. If you win one, that’s enough. It’s something like that. As soon as it is understood that there is no foreign currency to be spent in the center or approaching it, individual speculators, perhaps those who will enter TL shorts overseas, and savers with large savings will of course flee to the foreign currency. Institutions whose external debt is due and who fear that they will not be able to pay their external debts will have to join them.
Editor’s Note: Statements in the news are binding on the commentator. The news does not contain investment advice or guidance.