{"status":true,"post":{"id":14525,"user_id":23,"status":1,"type":1,"orde":null,"notification_type":3,"static_post":0,"published_at":"2022-10-21 09:48:11","created_at":"2016-08-28T21:00:00.000000Z","updated_at":"2022-10-21T06:48:11.000000Z","edited_at":"2024-12-17 22:35:21","source_id":null,"post_id":14525,"is_featured":0,"title":"Reel sekt\u00f6r\u00fcn kurlar kar\u015f\u0131s\u0131ndaki son durumu nedir?","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><span class=\"large\">T\u00fcrkiye Cumhuriyeti Merkez Bankas\u0131, d\u00f6nem d\u00f6nem reel sekt\u00f6r kur riskiyle ilgili veriler yay\u0131nl\u0131yor. En son veri May\u0131s 2016 ay\u0131na ait.<\/span><\/p>  <p><span class=\"large\">Mevcut verilere g\u00f6re reel sekt\u00f6r\u00fcn May\u0131s 2016 ay\u0131 itibariyle 107.3 milyar USD varl\u0131\u011f\u0131 bulunuyor. Bu varl\u0131\u011f\u0131n 68.2 milyar USD k\u0131sm\u0131 bankalarda mevduat olarak tutuluyor. 11.3 milyar USD k\u0131sm\u0131 ihracat alaca\u011f\u0131 ve yurtd\u0131\u015f\u0131na yap\u0131lan do\u011frudan sermaye yat\u0131r\u0131m tutar\u0131 da 27.5 milyar dolar.<\/span><\/p>  <p><span class=\"large\">Bu varl\u0131\u011fa kar\u015f\u0131l\u0131k reel sekt\u00f6r\u00fcn ne kadar y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc oldu\u011funa bakt\u0131\u011f\u0131m\u0131zda 303.2 milyar dolar civar\u0131nda bir y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fcn oldu\u011funu g\u00f6r\u00fcyoruz. Bu y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn 272.4 milyar dolar nakdi kredilerden, 92.8 milyar dolar\u0131 yurtd\u0131\u015f\u0131ndan sa\u011flanan kredilerden, 30.7 milyar dolar\u0131 da yap\u0131lan ithalat bor\u00e7lar\u0131ndan kaynaklan\u0131yor. Bu arada y\u00fck\u00fcml\u00fcl\u00fcklerin 215 milyar dolar civar\u0131ndaki k\u0131sm\u0131 uzun vadeli krediler. <\/span><\/p>  <p><span class=\"large\">\u0130lk bak\u0131\u015fta \u00e7ok olumsuz bir tablo gibi yorumlanabilir. Ancak al\u0131nan uzun vadeli krediler a\u011f\u0131rl\u0131kl\u0131 yat\u0131r\u0131m kredisi olup kapasite art\u0131r\u0131m\u0131na y\u00f6nelik. Kald\u0131 ki \u00f6deme plan\u0131nda da mevcut b\u00fct\u00e7elenen cirolar hedef al\u0131narak \u00f6deme plan\u0131 \u00e7\u0131kar\u0131lm\u0131\u015f. O y\u00fczden mevcut y\u00fck\u00fcml\u00fcl\u00fckler kayda girmekle beraber verilerde hedeflenen ciro verilerine ba\u011fl\u0131 varl\u0131k art\u0131\u015f\u0131 hedefleri bulunmuyor.<\/span><\/p>  <p><span class=\"large\">Burada \u00f6nemli olan k\u0131s\u0131m; reel sekt\u00f6r\u00fcn k\u0131sa vade pozisyonunda eskiden oldu\u011fu gibi ciddi riskler almad\u0131\u011f\u0131. K\u0131sa vade net d\u00f6viz pozisyonu 2013\u2019ten bu yana hep art\u0131da. Yani k\u0131sa vadeli d\u00f6viz cinsi varl\u0131\u011f\u0131 hep k\u0131sa vadeli d\u00f6viz y\u00fck\u00fcml\u00fcl\u00fcklerinin \u00fczerinde kalm\u0131\u015f. Son veri ise hemen hemen ayn\u0131 oldu\u011funu g\u00f6steriyor.<\/span><\/p>  <p><span class=\"large\">Sonu\u00e7 olarak k\u0131sa vadeli kur dalgalanmalar\u0131na kar\u015f\u0131 reel sekt\u00f6r pozisyonlar\u0131n\u0131 s\u0131k\u0131 takip ederek kur riski almam\u0131\u015f. Bunun yan\u0131nda global d\u00fcnyan\u0131n bir par\u00e7as\u0131 olarak ucuz d\u0131\u015f kaynaklarla da \u00fcretim ve kapasite art\u0131r\u0131m\u0131n\u0131, teknoloji yenileme yat\u0131r\u0131mlar\u0131n\u0131 finanse etmeyi s\u00fcrd\u00fcrm\u00fc\u015f. T\u00fcrk liras\u0131 cinsi kredi faizlerinin d\u00f6viz cinsi kredilerle e\u015fit maliyetlere gelmesi durumunda y\u00fck\u00fcml\u00fcl\u00fcklerin TL cinsi kredilere kaymas\u0131 durumunda ciddi bir fark ortaya \u00e7\u0131kmas\u0131 ka\u00e7\u0131n\u0131lmaz olacak. Burada sorun daha \u00e7ok maliyet sorunu.<\/span><\/p>  \t\t\t\t","slug":"reel-sektorun-kurlar-karsisindaki-son-durumu-nedir","tags":"K\u00f6\u015fe Yaz\u0131s\u0131","meta_title":"Reel sekt\u00f6r\u00fcn kurlar kar\u015f\u0131s\u0131ndaki son durumu nedir?","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":113,"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":14624,"is_featured":0,"is_amp":0,"is_ads":0,"ads_link":null,"post_id":14525,"locale":"tr","category_id":73,"title":"Reel sekt\u00f6r\u00fcn kurlar kar\u015f\u0131s\u0131ndaki son durumu nedir?","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><span class=\"large\">T\u00fcrkiye Cumhuriyeti Merkez Bankas\u0131, d\u00f6nem d\u00f6nem reel sekt\u00f6r kur riskiyle ilgili veriler yay\u0131nl\u0131yor. En son veri May\u0131s 2016 ay\u0131na ait.<\/span><\/p>  <p><span class=\"large\">Mevcut verilere g\u00f6re reel sekt\u00f6r\u00fcn May\u0131s 2016 ay\u0131 itibariyle 107.3 milyar USD varl\u0131\u011f\u0131 bulunuyor. Bu varl\u0131\u011f\u0131n 68.2 milyar USD k\u0131sm\u0131 bankalarda mevduat olarak tutuluyor. 11.3 milyar USD k\u0131sm\u0131 ihracat alaca\u011f\u0131 ve yurtd\u0131\u015f\u0131na yap\u0131lan do\u011frudan sermaye yat\u0131r\u0131m tutar\u0131 da 27.5 milyar dolar.<\/span><\/p>  <p><span class=\"large\">Bu varl\u0131\u011fa kar\u015f\u0131l\u0131k reel sekt\u00f6r\u00fcn ne kadar y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc oldu\u011funa bakt\u0131\u011f\u0131m\u0131zda 303.2 milyar dolar civar\u0131nda bir y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fcn oldu\u011funu g\u00f6r\u00fcyoruz. Bu y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn 272.4 milyar dolar nakdi kredilerden, 92.8 milyar dolar\u0131 yurtd\u0131\u015f\u0131ndan sa\u011flanan kredilerden, 30.7 milyar dolar\u0131 da yap\u0131lan ithalat bor\u00e7lar\u0131ndan kaynaklan\u0131yor. Bu arada y\u00fck\u00fcml\u00fcl\u00fcklerin 215 milyar dolar civar\u0131ndaki k\u0131sm\u0131 uzun vadeli krediler. <\/span><\/p>  <p><span class=\"large\">\u0130lk bak\u0131\u015fta \u00e7ok olumsuz bir tablo gibi yorumlanabilir. Ancak al\u0131nan uzun vadeli krediler a\u011f\u0131rl\u0131kl\u0131 yat\u0131r\u0131m kredisi olup kapasite art\u0131r\u0131m\u0131na y\u00f6nelik. Kald\u0131 ki \u00f6deme plan\u0131nda da mevcut b\u00fct\u00e7elenen cirolar hedef al\u0131narak \u00f6deme plan\u0131 \u00e7\u0131kar\u0131lm\u0131\u015f. O y\u00fczden mevcut y\u00fck\u00fcml\u00fcl\u00fckler kayda girmekle beraber verilerde hedeflenen ciro verilerine ba\u011fl\u0131 varl\u0131k art\u0131\u015f\u0131 hedefleri bulunmuyor.<\/span><\/p>  <p><span class=\"large\">Burada \u00f6nemli olan k\u0131s\u0131m; reel sekt\u00f6r\u00fcn k\u0131sa vade pozisyonunda eskiden oldu\u011fu gibi ciddi riskler almad\u0131\u011f\u0131. K\u0131sa vade net d\u00f6viz pozisyonu 2013\u2019ten bu yana hep art\u0131da. Yani k\u0131sa vadeli d\u00f6viz cinsi varl\u0131\u011f\u0131 hep k\u0131sa vadeli d\u00f6viz y\u00fck\u00fcml\u00fcl\u00fcklerinin \u00fczerinde kalm\u0131\u015f. Son veri ise hemen hemen ayn\u0131 oldu\u011funu g\u00f6steriyor.<\/span><\/p>  <p><span class=\"large\">Sonu\u00e7 olarak k\u0131sa vadeli kur dalgalanmalar\u0131na kar\u015f\u0131 reel sekt\u00f6r pozisyonlar\u0131n\u0131 s\u0131k\u0131 takip ederek kur riski almam\u0131\u015f. Bunun yan\u0131nda global d\u00fcnyan\u0131n bir par\u00e7as\u0131 olarak ucuz d\u0131\u015f kaynaklarla da \u00fcretim ve kapasite art\u0131r\u0131m\u0131n\u0131, teknoloji yenileme yat\u0131r\u0131mlar\u0131n\u0131 finanse etmeyi s\u00fcrd\u00fcrm\u00fc\u015f. T\u00fcrk liras\u0131 cinsi kredi faizlerinin d\u00f6viz cinsi kredilerle e\u015fit maliyetlere gelmesi durumunda y\u00fck\u00fcml\u00fcl\u00fcklerin TL cinsi kredilere kaymas\u0131 durumunda ciddi bir fark ortaya \u00e7\u0131kmas\u0131 ka\u00e7\u0131n\u0131lmaz olacak. Burada sorun daha \u00e7ok maliyet sorunu.<\/span><\/p>  \t\t\t\t","slug":"reel-sektorun-kurlar-karsisindaki-son-durumu-nedir","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 kurlar kar\u015f\u0131s\u0131ndaki son durumu nedir?","meta_description":"Hikmet Baydar","meta_keywords":"K\u00f6\u015fe Yaz\u0131s\u0131","view_count":113,"yt":0,"ytid":"","ytimage":null,"imgdate":"2000-01-01 00:00:00","cuff_cover":null,"cropped_358x214":null,"cropped_842x474":null}]}}