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The Impact of the Floating Exchange Rate Regime on the Central Bank's Foreign Currency Assets and Liabilities: 2002-2010

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  • Alper Yakupoğlu

    (Takasbank A.Ş.)

Abstract

After the crisis in February 2001 the banking and finance sector in Turkey was restructured and the structure of the Central Bank was renewed. Price stability set as the main target for the Turkish Central Bank. Fixed exchange rate regime anchored to a dollar- euro nominated basket was abandoned, flexible exchange regime was adopted and Turkish Lira was devaluated. This radical change in exchange rate regime affected the foreign exchange assets of the Turkish Central Bank and increased its reserves. In this paper the effect of the exchange rate regime implemented by Turkish Central Bank on the FX accounts in Central Bank Analytical Balance Sheet will be analyzed for the period of 2002-2010.

Suggested Citation

  • Alper Yakupoğlu, 2011. "The Impact of the Floating Exchange Rate Regime on the Central Bank's Foreign Currency Assets and Liabilities: 2002-2010," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 26(91), pages 21-45, April.
    • Handle: RePEc:acc:malfin:v:26:y:2011:i:91:p:21-45
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