{"id":30251,"date":"2026-03-13T05:03:27","date_gmt":"2026-03-13T05:03:27","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/standard-chartered-ekonomistleri-kuresellesme-endeksinin-son-donemde-genel-olarak-yatay-seyretmesiyle-offshore-renminbide-istikrarin-surdugunu-soyluyor\/"},"modified":"2026-03-13T05:03:27","modified_gmt":"2026-03-13T05:03:27","slug":"standard-chartered-ekonomistleri-kuresellesme-endeksinin-son-donemde-genel-olarak-yatay-seyretmesiyle-offshore-renminbide-istikrarin-surdugunu-soyluyor","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/standard-chartered-ekonomistleri-kuresellesme-endeksinin-son-donemde-genel-olarak-yatay-seyretmesiyle-offshore-renminbide-istikrarin-surdugunu-soyluyor\/","title":{"rendered":"Standard Chartered ekonomistleri, k\u00fcreselle\u015fme endeksinin son d\u00f6nemde genel olarak yatay seyretmesiyle offshore renminbide istikrar\u0131n s\u00fcrd\u00fc\u011f\u00fcn\u00fc s\u00f6yl\u00fcyor"},"content":{"rendered":"Standard Chartered, offshore Renminbi\u2019nin (CNH; \u00c7in yuan\u0131n\u0131n \u00c7in ana karas\u0131 d\u0131\u015f\u0131ndaki piyasalarda i\u015flem g\u00f6ren t\u00fcr\u00fc) istikrarl\u0131 kald\u0131\u011f\u0131n\u0131, Renminbi K\u00fcreselle\u015fme Endeksi\u2019nin (RGI; yuan\u0131n d\u00fcnyada \u00f6deme, ticaret ve finansmanda kullan\u0131m d\u00fczeyini \u00f6l\u00e7en g\u00f6sterge) Kas\u0131m-Ocak d\u00f6neminde b\u00fcy\u00fck \u00f6l\u00e7\u00fcde yatay seyretti\u011fini belirtti. Bu durum, A\u011fustos-Ekim d\u00f6nemindeki art\u0131\u015flar\u0131n ard\u0131ndan geldi.\n\nBanka, RGI\u2019nin ABD\u2013\u00c7in g\u00fcmr\u00fck tarifelerine (ithalata ek vergi) ili\u015fkin belirsizli\u011fe ba\u011fl\u0131 dalgalanmalar\u0131n ard\u0131ndan 2025 ortas\u0131ndan bu yana dengelendi\u011fini s\u00f6yledi. Daha istikrarl\u0131 seyrin, ticaret g\u00f6r\u00fc\u015fmeleri ve Kas\u0131m ay\u0131nda sa\u011flanan ticari ate\u015fkesle (taraflar\u0131n yeni tarifeleri durdurmas\u0131) ba\u011flant\u0131l\u0131 oldu\u011funu ifade etti.\n\n

Offshore Renminbi \u0130stikrar\u0131<\/h3>\nBanka ayr\u0131ca Dim Sum tahvili (Hong Kong gibi offshore piyasalarda yuan cinsinden ihra\u00e7 edilen tahvil) ihra\u00e7lar\u0131nda d\u00fczenli art\u0131\u015f ve ticaretin \u00f6demesinde (trade settlement; d\u0131\u015f ticaret i\u015flemlerinin \u00f6deme ve tahsilat\u0131n\u0131n yap\u0131lmas\u0131) yuan kullan\u0131m\u0131nda y\u00fckseli\u015f bildirdi. Banka, bu unsurlar\u0131n RGI\u2019nin istikrarl\u0131 g\u00f6r\u00fcn\u00fcm\u00fcn\u00fc destekledi\u011fini belirtti.\n\nStandard Chartered, yuan\u0131n daha geni\u015f kullan\u0131m\u0131na deste\u011fi, \u00c7in ana karas\u0131 ve Hong Kong otoritelerinin 15. Be\u015f Y\u0131ll\u0131k Plan kapsam\u0131ndaki ad\u0131mlar\u0131na ba\u011flad\u0131. Ayr\u0131ca, yuan cinsinden finansal \u00fcr\u00fcn ve yat\u0131r\u0131m ara\u00e7lar\u0131n\u0131n (Renminbi varl\u0131klar\u0131) \u00e7e\u015fitlenmesini de zemin unsur olarak g\u00f6sterdi.\n\nOffshore Renminbi\u2019nin (CNH) istikrarl\u0131 g\u00f6r\u00fcn\u00fcm\u00fc, \u00f6n\u00fcm\u00fczdeki haftalarda ima edilen oynakl\u0131\u011f\u0131n (implied volatility; opsiyon fiyatlar\u0131ndan t\u00fcretilen beklenen fiyat dalgalanmas\u0131) d\u00fc\u015f\u00fck kalabilece\u011fine i\u015faret ediyor. CNH ima edilen oynakl\u0131\u011f\u0131n 18 ay\u0131n en d\u00fc\u015f\u00fck seviyelerine yak\u0131n seyretti\u011fi, 2025 ortas\u0131nda ABD-\u00c7in tarife belirsizli\u011fi d\u00f6neminde g\u00f6r\u00fclen y\u00fcksek seviyelerle keskin bir z\u0131tl\u0131k olu\u015fturdu\u011fu belirtildi. Bu d\u00fc\u015f\u00fck oynakl\u0131k ortam\u0131n\u0131n, gelir elde etmek i\u00e7in opsiyon satmay\u0131 (prim toplama), opsiyon almaya k\u0131yasla daha cazip h\u00e2le getirdi\u011fi ifade edildi.\n\nCNH i\u00e7in kademeli y\u00fckseli\u015f beklentisiyle, USD\/CNH paritesinde (ABD dolar\u0131\/yuan kuru) kullan\u0131m fiyat\u0131 mevcut seviyenin d\u0131\u015f\u0131nda kalan (out-of-the-money; bug\u00fcnk\u00fc fiyata g\u00f6re \u201cparan\u0131n d\u0131\u015f\u0131nda\u201d olan) sat\u0131m opsiyonlar\u0131n\u0131n (put; kur d\u00fc\u015ferse kazand\u0131ran opsiyon) sat\u0131lmas\u0131n\u0131n f\u0131rsat sundu\u011fu kaydedildi. Bu stratejinin, zaman de\u011feri erimesinden (time decay; opsiyonun vade yakla\u015ft\u0131k\u00e7a de\u011fer kaybetmesi) ve kurun istikrar\u0131 ya da kademeli de\u011fer kazan\u0131m\u0131ndan yarar sa\u011flad\u0131\u011f\u0131 belirtildi. 15. Be\u015f Y\u0131ll\u0131k Plan kapsam\u0131ndaki politika deste\u011finin bu g\u00f6r\u00fc\u015f i\u00e7in temel olu\u015fturdu\u011fu ifade edildi.\n\n

Renminbi\u2019nin K\u00fcresel Kullan\u0131m\u0131nda Art\u0131\u015f<\/h3>\nBu g\u00f6r\u00fcn\u00fcm\u00fcn, paran\u0131n k\u00fcresel kullan\u0131m\u0131n\u0131n artt\u0131\u011f\u0131n\u0131 g\u00f6steren son verilerle de g\u00fc\u00e7lendi\u011fi belirtildi. SWIFT verilerine g\u00f6re (k\u00fcresel bankalar aras\u0131 \u00f6deme a\u011f\u0131), yuan\u0131n k\u00fcresel \u00f6demelerdeki pay\u0131 \u015eubat\u2019ta %4,8 ile yeni zirveye \u00e7\u0131kt\u0131; ge\u00e7en y\u0131l sonundaki %4,5 seviyesinin \u00fczerine y\u00fckseldi. Bunun, Kas\u0131m 2025\u2019teki ticari ate\u015fkesten bu yana izlenen yuan varl\u0131klar\u0131na (Renminbi varl\u0131klar\u0131; yuan cinsinden tahvil, mevduat, fon vb.) yeniden artan ilgiyi do\u011frulad\u0131\u011f\u0131 ifade edildi.\n\nDim Sum tahvili ihra\u00e7lar\u0131n\u0131n g\u00fc\u00e7l\u00fc seyretti\u011fi, yaln\u0131zca bu y\u0131l\u0131n ilk iki ay\u0131nda 100 milyar RMB\u2019nin (\u00c7in yuan\u0131) \u00fczerinde ihra\u00e7 yap\u0131ld\u0131\u011f\u0131 kaydedildi. Bunun, g\u00fcvenin sadece d\u00f6viz piyasalar\u0131yla s\u0131n\u0131rl\u0131 kalmad\u0131\u011f\u0131n\u0131 g\u00f6sterdi\u011fi belirtildi. Yuan cinsinden varl\u0131klara s\u00fcren talebin CNH i\u00e7in destekleyici bir taban olu\u015fturabilece\u011fi ifade edildi.\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 sakinlik dikkat \u00e7ekiyor: Standard Chartered, CNH\u2019nin stabil kald\u0131\u011f\u0131n\u0131, RGI\u2019nin yatayla\u015ft\u0131\u011f\u0131n\u0131 belirtti. Dim Sum ihra\u00e7lar\u0131 ve SWIFT\u2019te %4,8 payla \u00f6deme kullan\u0131m\u0131 artarken, d\u00fc\u015f\u00fck oynakl\u0131k opsiyon sat\u0131\u015f\u0131n\u0131 \u00f6ne \u00e7\u0131kar\u0131yor.<\/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-30251","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\/30251","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=30251"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30251\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=30251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=30251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=30251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}