The Turkish Central Bank officials are meeting with the executives of commercial banks on Sunday, in light of the fluctuations of the market caused by the arrest of the mayor of Istanbul Akram Imamoglu on corruption charges, according to Bloomberg from well -informed sources.
Bloomberg quoted sources whose identity was not revealed to the confidentiality of the meeting, as saying that officials will discuss potential coordination with banks, and to evaluate the recent sales in the Turkish market.
Immediately after the arrest of Oglu, the exchange rate of the lira against the dollar was fluctuated from 36.67, to jump to 42 pounds before holding again to 37.83 pounds in the latest transactions.
The wave of sale in the intervention of Turkish banks caused, as financial institutions sold approximately $ 8 billion in an attempt to stop the sharp deterioration, according to Bloomberg agency from sources described as well.
The meeting, to be held on Sunday afternoon local time, is among the first high -level meetings between the country lended in the country and the monetary authority since the detention of the mayor of Istanbul, Akram Imamoglu, earlier this week, which sparked tensions in the markets.
The lira, arrows and Turkish debts later registered some of the largest decreases in the world, as investors were evaluating the risk of potential decline in Turkish economic policies.
The Minister of the Treasury and Finance met Muhammad Shimashk, the heads of banks on Friday, and informed them that policy makers would use all the tools available to them to mitigate what he described as “temporary” fluctuations in the markets.
As for the Imamoglu, who is widely seen as the most prominent competitors of President Recep Tayyip Erdogan, he was imprisoned today, Sunday, on corruption charges.
