{"status":true,"post":{"id":21355,"user_id":23,"status":1,"type":1,"orde":null,"notification_type":3,"static_post":0,"published_at":"2022-10-24 14:06:57","created_at":"2020-01-09T21:00:00.000000Z","updated_at":"2022-10-24T11:06:57.000000Z","edited_at":"2024-12-17 22:35:21","source_id":null,"post_id":21355,"is_featured":0,"title":"Reel sekt\u00f6r\u00fcn kur pozisyonu","slider_title":null,"slider_title_2":null,"slider_spot_title":null,"slider_spot_title_2":null,"home_title":null,"sub_title":null,"category_id":73,"description":null,"content":"  \t\t\t\t\t  \t\t\t\t\t<p style=\"text-align: right;\"><span class=\"large\"><strong>Hikmet Baydar<\/strong><\/span><br><\/p>  <p><span class=\"large\">TCMB taraf\u0131ndan a\u00e7\u0131klanan finansal kesim d\u0131\u015f\u0131ndaki firmalar\u0131n d\u00f6viz varl\u0131k ve y\u00fck\u00fcml\u00fcl\u00fckleri tablosuna bir bakal\u0131m; bu tablo ile reel sekt\u00f6r kur y\u00fckseli\u015f veya d\u00fc\u015f\u00fc\u015flerinden nas\u0131l etkilenecek? Nas\u0131l bir pozisyon alm\u0131\u015f? Tek tek cevaplayal\u0131m.<\/span><\/p>  <p><span class=\"large\">2019\u2019un ekim ay\u0131, elimizdeki son veriler ve bu verilere g\u00f6re reel sekt\u00f6r\u00fcn 123.972 milyon dolar varl\u0131\u011f\u0131na kar\u015f\u0131l\u0131k 300.405 milyon dolar y\u00fck\u00fcml\u00fcl\u00fckleri bulunuyor. G\u00f6r\u00fclece\u011fi \u00fczere reel sekt\u00f6r\u00fcn neredeyse varl\u0131\u011f\u0131n\u0131n \u00fc\u00e7 kat\u0131na yak\u0131n d\u00f6viz y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc var. Varl\u0131klar\u0131n i\u00e7erisinde 17.941 milyon dolar ihracat alaca\u011f\u0131 bulunuyor. Bunun kar\u015f\u0131l\u0131\u011f\u0131nda ithalat borcu ise 43.176 milyon dolar. Buradan, reel sekt\u00f6r\u00fcn d\u0131\u015far\u0131dan piyasa kredisi temin etti\u011fini, yani tedarik\u00e7isine kendisini fonlatt\u0131\u011f\u0131n\u0131 s\u00f6ylemek yanl\u0131\u015f olmaz. Reel sekt\u00f6r\u00fcn 2019\u2019un ekim ay\u0131 itibariyle kulland\u0131\u011f\u0131 d\u00f6viz kredi toplam\u0131 ise 257.229 milyon dolar tutar\u0131nda.<img style=\"\" src=\"\/Archive\/Content\/1220202212455363a1ae81b624821454.webp\" alt=\"\" width=\"\" height=\"\" class=\"contentImg\"><\/span><\/p>  <p><span class=\"large\">Genel tabloya g\u00f6re d\u00f6viz y\u00fckseli\u015fi ka\u011f\u0131t \u00fczerinde reel sekt\u00f6r\u00fcn aleyhine. Ancak bu durum fiili olarak reel sekt\u00f6r\u00fcn zarar edece\u011fi anlam\u0131na gelmemeli. Reel sekt\u00f6r\u00fcn k\u0131sa vadeli y\u00fck\u00fcml\u00fcl\u00fckleri 93.558 milyon dolar iken, k\u0131sa vadeli varl\u0131klar\u0131 toplam\u0131 105.227 milyon dolar. B\u00f6ylece reel sekt\u00f6r k\u0131sa vadede 11.669 milyon dolar fazla d\u00f6vize sahip. K\u0131sa vadede meydana gelebilecek kur y\u00fckseli\u015flerine kar\u015f\u0131 fazlas\u0131yla haz\u0131rl\u0131kl\u0131. Kald\u0131 ki, uzun vadeli y\u00fck\u00fcml\u00fcl\u00fcklerin a\u011f\u0131rl\u0131kl\u0131 olarak yat\u0131r\u0131m kredisi oldu\u011funu d\u00fc\u015f\u00fcn\u00fcrsek \u00f6deme zaman\u0131 geldi\u011finde yap\u0131lan yat\u0131r\u0131m\u0131n geri d\u00f6n\u00fc\u015fleri olaca\u011f\u0131ndan, o zaman da nakit dengesinde sorun olmama ihtimali y\u00fcksek. Tablodan g\u00f6r\u00fcld\u00fc\u011f\u00fc kadar\u0131yla reel sekt\u00f6r uzun vadeli fonlamay\u0131 d\u00f6vizle yaparken, k\u0131sa vadede meydana gelebilecek dalgalanmalara kar\u015f\u0131 da fazla d\u00f6viz rezervi tutuyor. Uzun vadeli fonlamada olu\u015facak kur art\u0131\u015f maliyeti bizlere enflasyon olarak (sistemin bir riski) yans\u0131t\u0131lacak.<\/span><\/p>  \t\t\t\t","slug":"reel-sektorun-kur-pozisyonu","tags":"K\u00f6\u015fe Yaz\u0131s\u0131","meta_title":"Reel sekt\u00f6r\u00fcn kur pozisyonu","meta_description":"Hikmet Baydar","meta_keywords":"K\u00f6\u015fe Yaz\u0131s\u0131","news_cover_min":null,"news_cover":null,"news_video_min":null,"news_video":null,"view_count":863,"cropped_1200x675":null,"user":{"id":23,"name":"H\u0130KMET","surname":"BAYDAR","email":"hikmet-baydar@gmail.com","slug":"hikmet-baydar","avatar":"\/front\/uploads\/avatar\/1733691600m8IdzrjJsMVvSMC.webp","status":1,"role":1,"email_verified_at":null,"orde":null,"created_at":"2022-10-19T14:42:06.000000Z","updated_at":"2024-12-18T09:49:02.000000Z","seo_title":null,"seo_description":null},"translations":[{"id":21454,"is_featured":0,"is_amp":0,"is_ads":0,"ads_link":null,"post_id":21355,"locale":"tr","category_id":73,"title":"Reel sekt\u00f6r\u00fcn kur pozisyonu","home_title":null,"sub_title":null,"slider_title":null,"slider_title_2":null,"slider_spot_title":null,"slider_spot_title_2":null,"subtitleuse":0,"description":null,"content":"  \t\t\t\t\t  \t\t\t\t\t<p style=\"text-align: right;\"><span class=\"large\"><strong>Hikmet Baydar<\/strong><\/span><br><\/p>  <p><span class=\"large\">TCMB taraf\u0131ndan a\u00e7\u0131klanan finansal kesim d\u0131\u015f\u0131ndaki firmalar\u0131n d\u00f6viz varl\u0131k ve y\u00fck\u00fcml\u00fcl\u00fckleri tablosuna bir bakal\u0131m; bu tablo ile reel sekt\u00f6r kur y\u00fckseli\u015f veya d\u00fc\u015f\u00fc\u015flerinden nas\u0131l etkilenecek? Nas\u0131l bir pozisyon alm\u0131\u015f? Tek tek cevaplayal\u0131m.<\/span><\/p>  <p><span class=\"large\">2019\u2019un ekim ay\u0131, elimizdeki son veriler ve bu verilere g\u00f6re reel sekt\u00f6r\u00fcn 123.972 milyon dolar varl\u0131\u011f\u0131na kar\u015f\u0131l\u0131k 300.405 milyon dolar y\u00fck\u00fcml\u00fcl\u00fckleri bulunuyor. G\u00f6r\u00fclece\u011fi \u00fczere reel sekt\u00f6r\u00fcn neredeyse varl\u0131\u011f\u0131n\u0131n \u00fc\u00e7 kat\u0131na yak\u0131n d\u00f6viz y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc var. Varl\u0131klar\u0131n i\u00e7erisinde 17.941 milyon dolar ihracat alaca\u011f\u0131 bulunuyor. Bunun kar\u015f\u0131l\u0131\u011f\u0131nda ithalat borcu ise 43.176 milyon dolar. Buradan, reel sekt\u00f6r\u00fcn d\u0131\u015far\u0131dan piyasa kredisi temin etti\u011fini, yani tedarik\u00e7isine kendisini fonlatt\u0131\u011f\u0131n\u0131 s\u00f6ylemek yanl\u0131\u015f olmaz. Reel sekt\u00f6r\u00fcn 2019\u2019un ekim ay\u0131 itibariyle kulland\u0131\u011f\u0131 d\u00f6viz kredi toplam\u0131 ise 257.229 milyon dolar tutar\u0131nda.<img style=\"\" src=\"\/Archive\/Content\/1220202212455363a1ae81b624821454.webp\" alt=\"\" width=\"\" height=\"\" class=\"contentImg\"><\/span><\/p>  <p><span class=\"large\">Genel tabloya g\u00f6re d\u00f6viz y\u00fckseli\u015fi ka\u011f\u0131t \u00fczerinde reel sekt\u00f6r\u00fcn aleyhine. Ancak bu durum fiili olarak reel sekt\u00f6r\u00fcn zarar edece\u011fi anlam\u0131na gelmemeli. Reel sekt\u00f6r\u00fcn k\u0131sa vadeli y\u00fck\u00fcml\u00fcl\u00fckleri 93.558 milyon dolar iken, k\u0131sa vadeli varl\u0131klar\u0131 toplam\u0131 105.227 milyon dolar. B\u00f6ylece reel sekt\u00f6r k\u0131sa vadede 11.669 milyon dolar fazla d\u00f6vize sahip. K\u0131sa vadede meydana gelebilecek kur y\u00fckseli\u015flerine kar\u015f\u0131 fazlas\u0131yla haz\u0131rl\u0131kl\u0131. Kald\u0131 ki, uzun vadeli y\u00fck\u00fcml\u00fcl\u00fcklerin a\u011f\u0131rl\u0131kl\u0131 olarak yat\u0131r\u0131m kredisi oldu\u011funu d\u00fc\u015f\u00fcn\u00fcrsek \u00f6deme zaman\u0131 geldi\u011finde yap\u0131lan yat\u0131r\u0131m\u0131n geri d\u00f6n\u00fc\u015fleri olaca\u011f\u0131ndan, o zaman da nakit dengesinde sorun olmama ihtimali y\u00fcksek. Tablodan g\u00f6r\u00fcld\u00fc\u011f\u00fc kadar\u0131yla reel sekt\u00f6r uzun vadeli fonlamay\u0131 d\u00f6vizle yaparken, k\u0131sa vadede meydana gelebilecek dalgalanmalara kar\u015f\u0131 da fazla d\u00f6viz rezervi tutuyor. Uzun vadeli fonlamada olu\u015facak kur art\u0131\u015f maliyeti bizlere enflasyon olarak (sistemin bir riski) yans\u0131t\u0131lacak.<\/span><\/p>  \t\t\t\t","slug":"reel-sektorun-kur-pozisyonu","orjinalimage":null,"news_cover_min":null,"news_cover":null,"news_video_min":null,"news_video":null,"cropped_638x552":null,"cropped_310x208":null,"cropped_416x247":null,"cropped_197x247":null,"cropped_416x600":null,"cropped_1200x675":null,"tags":"K\u00f6\u015fe Yaz\u0131s\u0131","meta_title":"Reel sekt\u00f6r\u00fcn kur pozisyonu","meta_description":"Hikmet Baydar","meta_keywords":"K\u00f6\u015fe Yaz\u0131s\u0131","view_count":863,"yt":0,"ytid":"","ytimage":null,"imgdate":"2000-01-01 00:00:00","cuff_cover":null,"cropped_358x214":null,"cropped_842x474":null}]}}