{"id":4671,"date":"2011-09-06T10:20:36","date_gmt":"2011-09-06T07:20:36","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=4671"},"modified":"2011-09-06T10:20:48","modified_gmt":"2011-09-06T07:20:48","slug":"dovize-mudahale-edilmeli-mi","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/dovize-mudahale-edilmeli-mi\/","title":{"rendered":"D\u00f6vize M\u00fcdahale Edilmeli mi?"},"content":{"rendered":"<p><strong>Sorun t\u00fcm\u00fcyle d\u0131\u015far\u0131dan kaynaklan\u0131yorsa o zaman m\u00fcdahale sonu\u00e7 getirmeyece\u011fi i\u00e7in do\u011frulu\u011funu kaybeder ve rezerv azalt\u0131r.<\/strong><\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-1222941440\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"9580705384\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Biz bayram tatilindeyken TL bir miktar de\u011ferlendi. T\u00fcrkiye Cumhuriyet Merkez Bankas\u0131 (TCMB) Ba\u015fkan\u0131\u2019n\u0131n yapt\u0131\u011f\u0131 bir a\u00e7\u0131klamadan \u00e7\u0131kar\u0131lan \u2018dolar i\u00e7in istenen kur band\u0131\u2019 1,59 ile 1,69 aras\u0131yd\u0131. Bayramdan \u00f6nce TCMB, kuru tutabilmek i\u00e7in kendisini paralad\u0131. Piyasaya dolar satt\u0131 durdu. Bunun da etkisiyle rezervler 88,5 milyar dolara kadar geriledi. Buna kar\u015f\u0131n bu m\u00fcdahale hi\u00e7bir kal\u0131c\u0131 etki yaratamad\u0131. TCMB piyasaya m\u00fcdahale edip dolar satt\u0131\u011f\u0131nda birka\u00e7 kuru\u015f oynayan parite, m\u00fcdahale bitti\u011finde yeniden eski d\u00fczeyine geliyordu.<\/p>\n<p><strong>\u0130ki farkl\u0131 g\u00f6r\u00fc\u015f<br \/>\n<\/strong>O s\u0131ralarda ya\u015fanan bir tart\u0131\u015fmada iki g\u00f6r\u00fc\u015f \u00f6ne \u00e7\u0131kt\u0131: \u0130lk g\u00f6r\u00fc\u015f kurun t\u00fcm\u00fcyle d\u0131\u015f geli\u015fmelerden etkilenmesi nedeniyle bizim m\u00fcdahale etmemizin anlam\u0131 olmad\u0131\u011f\u0131n\u0131 savunurken, ikinci g\u00f6r\u00fc\u015f bizim m\u00fcdahalemizin her durumda pariteyi etkileyece\u011fi iddias\u0131n\u0131 \u00f6ne s\u00fcr\u00fcyordu. TCMB de ikinci g\u00f6r\u00fc\u015fteydi ve d\u00f6viz satarak piyasalara s\u00fcrekli m\u00fcdahale etti.<\/p>\n<p>A\u015fa\u011f\u0131daki grafik, a\u011fustos ay\u0131n\u0131n 10\u2019u ile 31\u2019i aras\u0131nda dolar TL kurunun seyrini g\u00f6steriyor. Grafikte yatay eksende yer alan 10 ile 22. g\u00fcn aras\u0131 TCMB\u2019nin piyasalara m\u00fcdahale etti\u011fi d\u00f6nemi, 22 ile 31. g\u00fcn aras\u0131 da tatil oldu\u011fu i\u00e7in m\u00fcdahale etmedi\u011fi d\u00f6nemi g\u00f6steriyor.<\/p>\n<p>TCMB\u2019nin tatil nedeniyle m\u00fcdahale etmedi\u011fi d\u00f6nemde USD paritesi daha h\u0131zl\u0131 d\u00fc\u015fm\u00fc\u015f durumda. Yani d\u0131\u015far\u0131da olan olaylarla y\u00fckselen kur yine d\u0131\u015far\u0131da olan olaylarla d\u00fc\u015fm\u00fc\u015f g\u00f6r\u00fcn\u00fcyor. TCMB\u2019nin bu durumda d\u00f6viz piyasas\u0131na m\u00fcdahalesi yaln\u0131zca rezerv azalmas\u0131yla sonu\u00e7lanm\u0131\u015f ve ilk g\u00f6r\u00fc\u015fte olanlar hakl\u0131 \u00e7\u0131km\u0131\u015f bulunuyor.<\/p>\n<p>Bir yanl\u0131\u015f anlamay\u0131 pe\u015finen gidermek istiyorum. Merkez Bankas\u0131, d\u00f6viz kurlar\u0131n\u0131n a\u015f\u0131r\u0131 oynakl\u0131k g\u00f6sterdi\u011fi ve piyasalar\u0131 bozdu\u011fu ortamlarda al\u0131m ya da sat\u0131mlar yoluyla d\u00f6viz kuruna m\u00fcdahale edebilir. \u00d6zellikle d\u00f6viz kurundaki dalgalanmalar kendi ekonomimizdeki geli\u015fmelerden kaynaklan\u0131yorsa Merkez Bankas\u0131\u2019n\u0131n m\u00fcdahalesi do\u011frudur. Ya da d\u0131\u015far\u0131dan kaynaklanan baz\u0131 olumsuzluklar i\u00e7eride daha b\u00fcy\u00fck olumsuzluklara neden oluyor ve d\u00f6viz kuru dalgalanmalar\u0131n\u0131n bu nedenle artmas\u0131na yol a\u00e7\u0131yorsa Merkez Bankas\u0131\u2019n\u0131n kura m\u00fcdahalesi yine do\u011frudur. Ama sorun t\u00fcm\u00fcyle d\u0131\u015far\u0131dan kaynaklan\u0131yorsa o zaman m\u00fcdahale sonu\u00e7 getirmeyece\u011fi i\u00e7in do\u011frulu\u011funu kaybeder ve gereksiz rezerv azalmas\u0131na yol a\u00e7ar. Bu gibi durumlarda en do\u011frusu oturup d\u0131\u015far\u0131n\u0131n sakinle\u015fmesini beklemektir.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sorun t\u00fcm\u00fcyle d\u0131\u015far\u0131dan kaynaklan\u0131yorsa o zaman m\u00fcdahale sonu\u00e7 getirmeyece\u011fi i\u00e7in do\u011frulu\u011funu kaybeder ve rezerv azalt\u0131r. Biz bayram tatilindeyken TL bir miktar de\u011ferlendi. T\u00fcrkiye Cumhuriyet Merkez&hellip;<\/p>\n","protected":false},"author":12,"featured_media":896,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tumyazilar"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/4671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=4671"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/4671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/896"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=4671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=4671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=4671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}