{"id":29844,"date":"2026-03-09T04:00:34","date_gmt":"2026-03-09T04:00:34","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/pboc-usd-cny-orta-noktasini-onceki-69025-seviyesinden-69158e-yukseltti\/"},"modified":"2026-03-09T04:00:34","modified_gmt":"2026-03-09T04:00:34","slug":"pboc-usd-cny-orta-noktasini-onceki-69025-seviyesinden-69158e-yukseltti","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/pboc-usd-cny-orta-noktasini-onceki-69025-seviyesinden-69158e-yukseltti\/","title":{"rendered":"PBOC, USD\/CNY orta noktas\u0131n\u0131 \u00f6nceki 6,9025 seviyesinden 6,9158\u2019e y\u00fckseltti"},"content":{"rendered":"Pazartesi g\u00fcn\u00fc \u00c7in Halk Bankas\u0131 (PBoC), USD\/CNY (ABD dolar\u0131\/\u00c7in yuan\u0131) orta kurunu 6,9158 olarak belirledi. \u00d6nceki g\u00fcn 6,9025 seviyesindeydi.\n\nPBoC\u2019nin para politikas\u0131 (ekonomideki para ve faiz ko\u015fullar\u0131n\u0131 y\u00f6netme) hedefleri aras\u0131nda fiyat istikrar\u0131n\u0131 (enflasyonun dengede kalmas\u0131) sa\u011flamak, buna kur istikrar\u0131n\u0131 (d\u00f6viz kurunda a\u015f\u0131r\u0131 oynakl\u0131\u011f\u0131 \u00f6nleme) da dahil etmek ve ekonomik b\u00fcy\u00fcmeyi desteklemek yer al\u0131r. Ayr\u0131ca \u00c7in\u2019in finans piyasalar\u0131n\u0131 a\u00e7ma ve geli\u015ftirme gibi finansal reformlar \u00fczerinde \u00e7al\u0131\u015f\u0131r.\n\n

Y\u00f6neti\u015fim ve Politika Y\u00f6n\u00fc<\/h3>\nPBoC, \u00c7in Halk Cumhuriyeti devletine ba\u011fl\u0131d\u0131r ve ba\u011f\u0131ms\u0131z bir kurum de\u011fildir. Devlet Konseyi Ba\u015fkan\u0131 taraf\u0131ndan \u00f6nerilen \u00c7in Kom\u00fcnist Partisi Komitesi Sekreteri, bankan\u0131n y\u00f6netimi ve y\u00f6n\u00fc \u00fczerinde etkili olur. Pan Gongsheng \u015fu anda hem bu g\u00f6revi hem de ba\u015fkanl\u0131k g\u00f6revini y\u00fcr\u00fctmektedir.\n\nPBoC, birden fazla politika arac\u0131 kullan\u0131r. Bunlar aras\u0131nda yedi g\u00fcnl\u00fck ters repo faizi (bankalara k\u0131sa vadeli likidite sa\u011flama i\u015flemlerinin faizi), Orta Vadeli Kredi \u0130mkan\u0131\/MLF (bankalara orta vadeli fonlama kanal\u0131), d\u00f6viz piyasas\u0131na m\u00fcdahale (kur \u00fczerindeki hareketi s\u0131n\u0131rlamak i\u00e7in al\u0131m-sat\u0131m) ve zorunlu kar\u015f\u0131l\u0131k oran\u0131 (bankalar\u0131n mevduat\u0131n bir k\u0131sm\u0131n\u0131 Merkez Bankas\u0131\u2019nda tutma zorunlulu\u011fu) bulunur. \u00c7in\u2019in g\u00f6sterge faizi olan Loan Prime Rate\/LPR (bankalar\u0131n kredi fiyatlamas\u0131nda temel ald\u0131\u011f\u0131 referans faiz), kredi ve konut kredisi maliyetlerini ve mevduat faizlerini etkiler; ayr\u0131ca yuan\u0131n d\u00f6viz kurunu da etkileyebilir.\n\n\u00c7in\u2019de 19 \u00f6zel banka bulunur ve bunlar finans sisteminin k\u00fc\u00e7\u00fck bir b\u00f6l\u00fcm\u00fcd\u00fcr. En b\u00fcy\u00fckleri dijital bankalar WeBank ve MYbank\u2019t\u0131r. \u00c7in, 2014\u2019te tamamen \u00f6zel sermayeyle kurulan yerli kredi kurulu\u015flar\u0131n\u0131n, devletin a\u011f\u0131rl\u0131kta oldu\u011fu sekt\u00f6rde faaliyet g\u00f6stermesine izin verdi.\n\nPBoC\u2019nin USD\/CNY referans kurunu 6,9158\u2019de belirlemesi, daha zay\u0131f bir yuana (yuan\u0131n de\u011fer kaybetmesine) belirli \u00f6l\u00e7\u00fcde tolerans oldu\u011funu g\u00f6steriyor. Bu ad\u0131m\u0131n, \u00c7in\u2019in Ocak-\u015eubat 2026 d\u00f6neminde ihracat art\u0131\u015f\u0131n\u0131n y\u0131ll\u0131k bazda %1,5 ile beklentilerin belirgin alt\u0131nda kalmas\u0131na verilen bir tepki olmas\u0131 muhtemel. Daha zay\u0131f yuan, \u00c7in \u00fcr\u00fcnlerini yurtd\u0131\u015f\u0131nda daha ucuz hale getirerek ekonomik faaliyeti destekleyebilir.\n\n

USD\/CNY \u0130\u015flem Etkileri<\/h3>\nT\u00fcrev i\u015flem yapanlar (fiyat\u0131 bir varl\u0131\u011fa ba\u011fl\u0131 s\u00f6zle\u015fmelerle i\u015flem yapanlar) i\u00e7in bu durum, yuan\u0131n kontroll\u00fc \u015fekilde de\u011fer kaybetmeye devam etmesine y\u00f6nelik pozisyon alma f\u0131rsat\u0131 yaratabilir. Basit bir strateji, 7,00 psikolojik seviyesine yak\u0131n kullan\u0131m fiyatl\u0131 USD\/CNY al\u0131m opsiyonlar\u0131 (kur y\u00fckselirse de\u011fer kazanan s\u00f6zle\u015fme) sat\u0131n almak olabilir. Bu y\u00f6ntem, yuan zay\u0131flamay\u0131 s\u00fcrd\u00fcr\u00fcrse yukar\u0131 hareketten yararlanmay\u0131 sa\u011flar; olas\u0131 zarar ise \u00f6denen primle (opsiyonun bedeli) s\u0131n\u0131rl\u0131d\u0131r.\n\nBu politika, ABD\u2019deki g\u00f6r\u00fcn\u00fcmle belirgin \u015fekilde ayr\u0131\u015f\u0131yor. \u015eubat 2026 T\u00dcFE verisi (t\u00fcketici fiyat endeksi, enflasyonun yayg\u0131n \u00f6l\u00e7\u00fcm\u00fc) enflasyonun %2,8 ile y\u00fcksek seyrini korudu\u011funu g\u00f6sterdi. Bu da Fed\u2019in (ABD Merkez Bankas\u0131) yak\u0131n zamanda faiz indirmesini zorla\u015ft\u0131rarak ABD dolar\u0131na destek verebilir. \u0130ki \u00fclke aras\u0131ndaki bu artan politika ayr\u0131\u015fmas\u0131, USD\/CNY paritesinde (iki para biriminin birbirine kar\u015f\u0131 de\u011feri) daha g\u00fc\u00e7l\u00fc dolar\u0131 destekleyen bir zemini g\u00fc\u00e7lendiriyor; bu e\u011filim 2025\u2019in son \u00e7eyre\u011finde daha az belirgindi.\n\nAncak Merkez Bankas\u0131\u2019n\u0131n istikrar vurgusu unutulmamal\u0131. 2025 ortas\u0131nda h\u0131zl\u0131 de\u011fer kayb\u0131 d\u00f6nemlerinde devlet bankalar\u0131n\u0131n m\u00fcdahale etti\u011fi g\u00f6r\u00fclm\u00fc\u015ft\u00fc. Ama\u00e7, yuanda ani ve sert bir d\u00fc\u015f\u00fc\u015f de\u011fildir; bu nedenle i\u015flem yapanlar, beklenmedik politika de\u011fi\u015fikliklerine kar\u015f\u0131 korunmal\u0131d\u0131r. Tan\u0131ml\u0131 risk sunan opsiyonlar kullanmak, y\u00fcksek kald\u0131ra\u00e7l\u0131 (k\u00fc\u00e7\u00fck teminatla b\u00fcy\u00fck pozisyon) CNH vadeli i\u015flemlerinde (offshore yuan \u00fczerinden ileri tarihli s\u00f6zle\u015fmeler) k\u0131sa pozisyon ta\u015f\u0131maya g\u00f6re daha temkinli bir yakla\u015f\u0131m olabilir.\n

\n\n

Hemen i\u015flem yapmaya ba\u015flay\u0131n – Ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in buraya<\/a> t\u0131klay\u0131n <\/strong> <\/p>\n","protected":false},"excerpt":{"rendered":"

Yuan cephesinde kritik sinyal: PBoC USD\/CNY fixingi 6,9158\u2019e \u00e7ekti. Zay\u0131f yuana kontroll\u00fc tolerans, zay\u0131f ihracata destek aray\u0131\u015f\u0131 ve Fed\u2019le ayr\u0131\u015fma dolar\u0131 g\u00fc\u00e7lendiriyor; opsiyonlarla risk s\u0131n\u0131rlanabilir.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-29844","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/29844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=29844"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/29844\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=29844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=29844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=29844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}