Goldman’s Report Over Turkish Economy Points Out Negative Central Bank Assets

In a recent Goldman Sachs publication, it’s highlighted that Turkey’s Central Bank (TCMB) foreign assets are declining sharply, potentially triggering a rise in the USD/TRY exchange rate due to asset liquidation.

Goldman Sachs, is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals.

According to an economic research publication from Goldman Sachs released on May 19, 2023, it has been noted that the Central Bank of the Republic of Turkey’s (TCMB) foreign assets have been undergoing a significant decline. The report provides insight, suggesting a potential upward trend for the USD/TRY exchange rate as TCMB continues to liquidate its assets.

This valuable information presented by a globally recognized investment firm signifies a key development in the financial market that is important for investors and economists alike. The strategic maneuver by the Central Bank of Turkey and its anticipated impact on the USD/TRY ratio highlight the interconnected dynamics of global finance. This information, backed by rigorous economic research, allows us to understand better the multifaceted nature of international economics and investment strategy.

Full breakdown of the Goldman Sachs Economics Research publication’s first page can be read as follows;

Turkey: TCMB’s Foreign Assets Continue to Fall Sharply, by US$6.7bn to US$104.4bn as of 17 May

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