Deutsche Bank: Exodus of $ 1.75 billion in foreign flows from Turkish stocks

Ankara-Sana

Deutsche Bank, the largest German bank, revealed that the foreign flows that drained from Turkish stocks last week only amounted to 1.75 billion dollars.

Reuters reported that the bank estimates that between 500 and 700 million dollars were exited from Turkey's domestic bonds last week.

A state of panic prevailed in the Turkish markets last week after the shocking decision of the President of the Turkish regime, Recep Tayyip Erdogan, to dismiss the governor of the Central Bank, Naji Iqbal, and to appoint the former banker and deputy in the ruling party Shihab Koçioglu to replace him.

The decline in the value of the Turkish lira and its decline of 7.5 percent against the dollar in one day was one of the direct repercussions of Erdogan's decision to isolate Iqbal, at a time when this move sparked criticism from Turkish and foreign investors.

Experts and observers confirm that the deterioration of the Turkish economy and its entry into the stage of decline and the approach of the Turkish lira to the brink of collapse was only an expected result of Erdogan's wrong policies, which brought his country into a series of crises at the external and internal levels, the repercussions of which were directly reflected on the economy.