Istanbul-based analyst covering TRY mechanics, SPK broker licensing, and Turkish retail forex rules.
Editorial approach
Analysis grounded in primary sources, public regulation, and verification. Continuous editing — when underlying data changes, articles are updated and the date reflects the change.
Contact
For corrections, editorial questions, or coverage suggestions, write to [email protected].
Recent Articles by Mehmet Yılmaz
- CBRT Reserves $208B Feb 2026 — Buildup
CBRT gross reserves rose from $184B to $208B between October 2025 and February 2026. Net reserves excluding swaps reached $78B. Here is what drove the buildup and what defence capa - Turkey Iran War Energy → Lira → CBRT Cross-Asset
Iran war energy → Turkey CPI 32.37% April → CBRT 37% hold → TRY 45.2 record low. Cross-asset chain framework for lira traders. - Turkey Tourism FX 2026 — Lira Support
Tourism contributes $60+ billion annually to Turkey - CBRT 2026 Calendar — 5% Inflation Target Trader
CBRT 2026 calendar + 5% inflation target reaffirmed against 32% current. Trader event positioning around meetings and guidance analyzed. - Turkey Gold Grams 2026 — Lira Hedge
Turkish retail holds large quantities of physical and account-grams gold as a parallel store of value to lira deposits. The mechanism is cultural and economic. Here is the 2026 mar - BIST 100 + Foreign-Revenue Hedge 2026
Some BIST 100 constituents derive substantial revenue in foreign currency. Holding these stocks provides indirect lira hedge through FX-denominated earnings. Here is the 2026 stock - Turkey FX Surrender Rules 2026
TCMB requires Turkish exporters to convert a portion of their FX export receipts into lira. The threshold has evolved through 2022-2026. Here is what the current framework requires - RBI Hold Apr 2026 — TRY Cross-EM Implications
RBI MPC held repo at 5.25% on April 8, 2026, projecting FY27 CPI 4.6% and GDP 6.9%. The cross-emerging-market implications for USD/TRY positioning under CBRT-RBI policy divergence - SPK 1:10 + 50K TRY — Turkey's Hard Frame
SPK enforces 1:10 retail leverage and a 50,000 TRY minimum to open a forex account in Turkey — uniquely restrictive in major emerging markets. Here is what that frame actually does - Turkey KKM Wind-Down 2024-2026
KKM was Turkey - Karahan Orthodoxy Durability 2026
Karahan - Turkey USDT 2026 — Crypto Rail
USDT has become a parallel FX rail for Turkish retail. SPK introduced VASP licensing in 2024-2025 that brought the activity into a regulated framework. Here is how the retail flow