{"id":9376,"date":"2011-12-27T15:42:30","date_gmt":"2011-12-27T12:42:30","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=9376"},"modified":"2011-12-27T15:42:39","modified_gmt":"2011-12-27T12:42:39","slug":"doviz-satim-ihaleleri-kafa-karistiriyor","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/doviz-satim-ihaleleri-kafa-karistiriyor\/","title":{"rendered":"D\u00f6viz Sat\u0131m \u0130haleleri Kafa Kar\u0131\u015ft\u0131r\u0131yor"},"content":{"rendered":"<p>Merkez Bankas\u0131 bir s\u00fcredir d\u00f6viz sat\u0131m ihalelerinde sat\u0131lacak \u00fcst limiti ilan edip bunun \u00e7ok a\u015fa\u011f\u0131s\u0131nda sat\u0131\u015f yap\u0131yor.<br \/>\nD\u00fcn de bir duyuru yaparak bu duruma a\u00e7\u0131kl\u0131k getirmeye \u00e7al\u0131\u015ft\u0131. Ama kafalar\u0131 daha da kar\u0131\u015ft\u0131rd\u0131.<br \/>\nNedeni bug\u00fcnden itibaren yap\u0131lacak ihalelerde sat\u0131lacak d\u00f6vizin en y\u00fcksek tutar\u0131n\u0131n 1 milyar 350 milyon dolar, takip eden iki g\u00fcnde ise 1 milyar 700 milyon dolar oldu\u011fu, taleplerin sadece 50 milyon dolar\u0131n\u0131n kar\u015f\u0131lanaca\u011f\u0131 \u015feklindeki ifadelerden kaynakland\u0131.<br \/>\nPiyasalar \u00f6zellikle &#8220;Peki 50 milyon satacaks\u0131n da neden bu kadar y\u00fcksek limit tan\u0131yorsun&#8221; noktas\u0131na tak\u0131ld\u0131.<br \/>\nBunun yan\u0131t\u0131n\u0131 da Merkez Bankas\u0131 &#8220;Gerekli g\u00f6r\u00fclen istisnai durumlarda 50 milyon dolar\u0131 a\u015fabilirim&#8221; \u015feklinde verdi.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-1848900480\"><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><strong>MERKEZ&#8217;\u0130N GEREK\u00c7ELER\u0130<\/strong><br \/>\nPeki, Merkez Bankas\u0131 neden b\u00f6yle yap\u0131yor?<br \/>\n\u25a0 Her \u015feyden \u00f6nce spek\u00fclat\u00f6rlerden \u00e7ekiniyor. TL&#8217;ye bir sald\u0131r\u0131 olmas\u0131n\u0131 istemiyor.<br \/>\n\u25a0 D\u00f6viz rezervlerinin s\u00fcratle azalmas\u0131n\u0131 uygun g\u00f6rm\u00fcyor.<br \/>\n\u25a0 Ger\u00e7ek d\u00f6viz al\u0131m taleplerinin ge\u00e7ici oldu\u011funu d\u00fc\u015f\u00fcn\u00fcyor. Avrupa&#8217;da sorunlar \u00e7\u00f6z\u00fcl\u00fcnce d\u0131\u015f fonlar\u0131n tekrar T\u00fcrkiye&#8217;ye y\u00f6nelece\u011fini bekliyor.<br \/>\n\u25a0 \u00dcst limiti \u00e7ok y\u00fcksek tutmas\u0131, TL&#8217;nin daha \u00f6nce dile getirdi\u011fi s\u0131n\u0131rlardan daha fazla de\u011fer kaybetmesine m\u00fcdahale etmesine olanak tan\u0131yor.<br \/>\n\u25a0 \u0130stisnai durumlarda ise T\u00dcPRA\u015e ya da BOTA\u015e gibi ithalat\u0131 y\u00fcksek ve d\u0131\u015f \u00f6demesi fazla kurulu\u015flar\u0131n TL&#8217;ye bask\u0131 yapmadan d\u00f6viz gereksinimlerinin Merkez Bankas\u0131&#8217;nca kar\u015f\u0131lanmas\u0131n\u0131 ye\u011fliyor.<\/p>\n<p><strong>\u0130STEKLERLE GER\u00c7EKLER\u0130N \u00c7ATI\u015eMASI<\/strong><br \/>\nPolitika bu olsa da bankan\u0131n istekleri ile ger\u00e7ekler \u00e7at\u0131\u015f\u0131yor.<br \/>\nBunlar\u0131 s\u0131ralayal\u0131m.<br \/>\n\u25a0 Y\u0131l sonuna yakla\u015ft\u0131k\u00e7a, yurtd\u0131\u015f\u0131ndaki bir\u00e7ok finans kurulu\u015fu nakitte kalmak ve bu yolla sermaye yeterlilik oran\u0131n\u0131 y\u00fckseltmek istiyor. Bu iste\u011fin spek\u00fclatif hareketlerle ilgisi yok.<br \/>\n\u25a0 Limiti y\u00fcksek g\u00f6sterip \u00e7ok d\u00fc\u015f\u00fck miktarda sat\u0131\u015f yapmak g\u00fcvenilirlik a\u00e7\u0131s\u0131ndan kayg\u0131 yarat\u0131yor. Enflasyonla m\u00fccadelede en \u00f6nemli fakt\u00f6r olan kredibiliteyi zay\u0131flat\u0131yor.<br \/>\n\u25a0 Piyasada olu\u015fan sepetin 2.20 ve dolar\u0131n 1.90 \u00fcst limitlerin \u00fczerindeki hareketlere Merkez Bankas\u0131&#8217;n\u0131n izin vermeyece\u011fi \u015feklindeki &#8220;inan\u0131\u015f belirginli\u011finin&#8221; sistemde belirsizlik yaratt\u0131\u011f\u0131n\u0131 da g\u00f6zden ka\u00e7\u0131rmayal\u0131m. S\u0131rf bu nedenle banka test ediliyor olabilir.<br \/>\n\u25a0 Likiditenin bu derecede darald\u0131\u011f\u0131 \u015fu d\u00f6nemde, gelen taleplerin y\u00fcksekli\u011fi de \u015fa\u015f\u0131rt\u0131c\u0131. Bu kadar d\u00f6vizi Merkez Bankas\u0131&#8217;ndan almak i\u00e7in gerekli TL&#8217;nin nereden ve nas\u0131l bulunaca\u011f\u0131 da sorgulanmas\u0131 gerekli bir nokta.<br \/>\n\u25a0 Cari i\u015flemlerin ayl\u0131k olarak 4-5 milyar a\u00e7\u0131k verece\u011fi, ayr\u0131ca bu belirsizlikte sermaye hareketlerinden \u00e7\u0131k\u0131\u015flar\u0131n da s\u00fcrece\u011fi varsay\u0131l\u0131rsa, g\u00fcnl\u00fck asgari 500 milyon dolarl\u0131k bir d\u00f6viz transferinin ger\u00e7ekle\u015fmesi gerekiyor. Bunun 50 milyon dolarl\u0131k g\u00fcnl\u00fck sat\u0131\u015flarla kar\u015f\u0131lanamayaca\u011f\u0131 da ortada.<br \/>\nT\u00fcm bu noktalar\u0131 dikkate ald\u0131\u011f\u0131m\u0131zda Merkez Bankas\u0131&#8217;n\u0131n i\u015fi kolay de\u011fil. Siyasiler cari i\u015flemler a\u00e7\u0131\u011f\u0131n\u0131 azaltacak eylem plan\u0131na bir an \u00f6nce ba\u015flasalar ya da ba\u015flan\u0131lanlar\u0131 h\u0131zland\u0131rsalar hepimiz i\u00e7in iyi olacak.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Merkez Bankas\u0131 bir s\u00fcredir d\u00f6viz sat\u0131m ihalelerinde sat\u0131lacak \u00fcst limiti ilan edip bunun \u00e7ok a\u015fa\u011f\u0131s\u0131nda sat\u0131\u015f yap\u0131yor. D\u00fcn de bir duyuru yaparak bu duruma a\u00e7\u0131kl\u0131k&hellip;<\/p>\n","protected":false},"author":418,"featured_media":5395,"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-9376","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\/9376","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\/418"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=9376"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/9376\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/5395"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=9376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=9376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=9376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}