Robin Brooks, chief economist at the Institute of International Finance (IIF), said all current analyzes on the Turkish lira are “panic chatter”.
This came in a series of tweets he posted on his Twitter account, about the fluctuations in the exchange rate of the Turkish lira against the dollar.
Brooks added that some expect the current situation regarding the Turkish lira and the dollar to continue indefinitely.
He continued, “Do not pay any attention to any of these analyzes. They are all nonsense.”
He emphasized the lack of indications of a state of dollarization resulting from confusion.
And he added, “The movement of foreign deposits flows in a horizontal curve, given the average movement during the last 13 weeks.”
He pointed out that the crisis that Turkey witnessed in August 2018, was greater than what is happening now, stressing that Turkey will also be able to get rid of what it is experiencing now, as it did in 2018.
In recent weeks, the Turkish lira has witnessed a decline in its value against the dollar, as the exchange rate of one dollar reached 9.73 liras, on Monday morning.