{"id":53333,"date":"2026-08-28T01:27:15","date_gmt":"2026-08-28T01:27:15","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr-mena\/uncategorized\/bank-of-koreya-faiz-artisinin-ardindan-yonlendirmesini-yumusatirken-dolar-won-paritesi-bir-yilin-en-dusuk-seviyesine-yaklasti\/"},"modified":"2026-08-28T01:27:15","modified_gmt":"2026-08-28T01:27:15","slug":"bank-of-koreya-faiz-artisinin-ardindan-yonlendirmesini-yumusatirken-dolar-won-paritesi-bir-yilin-en-dusuk-seviyesine-yaklasti","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/bank-of-koreya-faiz-artisinin-ardindan-yonlendirmesini-yumusatirken-dolar-won-paritesi-bir-yilin-en-dusuk-seviyesine-yaklasti\/","title":{"rendered":"Bank of Koreya faiz art\u0131\u015f\u0131n\u0131n ard\u0131ndan y\u00f6nlendirmesini yumu\u015fat\u0131rken dolar\/won paritesi bir y\u0131l\u0131n en d\u00fc\u015f\u00fck seviyesine yakla\u015ft\u0131"},"content":{"rendered":"

USD\/KRW, Kore Merkez Bankas\u0131\u2019n\u0131n (BoK) art arda ikinci toplant\u0131da da faizleri 25 baz puan art\u0131rarak politika faizini (Base Rate) %3,00\u2019e y\u00fckseltmesinin ard\u0131ndan bir y\u0131ll\u0131k dip seviyeye yak\u0131n seyretti. Bloomberg anketine g\u00f6re 22 analistin 14\u2019\u00fc faiz art\u0131\u015f\u0131 beklerken, kalan k\u0131sm\u0131 faizin sabit b\u0131rak\u0131laca\u011f\u0131n\u0131 \u00f6ng\u00f6r\u00fcyordu. Merkez bankas\u0131 mesajlar\u0131n\u0131 yumu\u015fatt\u0131; daha \u00f6nceki \u201cilave faiz art\u0131\u015flar\u0131yla uyumlu\u201d duru\u015f taahh\u00fcd\u00fcn\u00fc metinden \u00e7\u0131kararak, bundan sonraki Base Rate art\u0131\u015flar\u0131n\u0131n zamanlamas\u0131 ve h\u0131z\u0131n\u0131n gelen verilere ba\u011fl\u0131 olaca\u011f\u0131n\u0131 belirtti.<\/p>\n

Politika projeksiyonlar\u0131 ise h\u00e2l\u00e2 s\u0131k\u0131la\u015fma potansiyeline i\u015faret ediyor. Alt\u0131 ayl\u0131k ko\u015fullu faiz g\u00f6r\u00fcn\u00fcm\u00fcnde alt\u0131 \u00fcye %3,50\u2019yi, on \u00fcye %3,25\u2019i, be\u015f \u00fcye %3,00\u2019\u00fc i\u015faretledi. Swap piyasas\u0131, \u00f6n\u00fcm\u00fczdeki alt\u0131 ayda politika faizini %3,50\u2019ye daha yak\u0131n; takip eden on iki ayda ise %3,75 civar\u0131nda fiyatl\u0131yor. G\u00fcney Kore\u2019nin cari fazla\/GSYH oran\u0131 1\u00c7\u2019te %9,4 seviyesindeyken, Kas\u0131m ay\u0131na kadar WGBI\u2019ye tam dahil edilmesinin yabanc\u0131 tahvil giri\u015flerini desteklemesi bekleniyor.<\/p>\n\n

Daha G\u00fc\u00e7l\u00fc Won \u0130\u00e7in \u0130\u015flem Stratejileri<\/h3>\n\n

\u00d6n\u00fcm\u00fczdeki haftalarda t\u00fcrev i\u015flem yapan yat\u0131r\u0131mc\u0131lar\u0131n USD\/KRW\u2019de k\u0131sa pozisyonlara y\u00f6nelmesini veya G\u00fcney Kore wonu (KRW) al\u0131m (call) opsiyonlar\u0131n\u0131 de\u011ferlendirmesini \u00f6neriyoruz. BoK\u2019un politika faizini art arda art\u0131rarak %3,00\u2019e \u00e7\u0131karmas\u0131 USD\/KRW\u2019yi bir y\u0131ll\u0131k dip seviyeye yakla\u015ft\u0131rd\u0131; bu da parite a\u00e7\u0131s\u0131ndan g\u00fc\u00e7l\u00fc bir d\u00fc\u015f\u00fc\u015f trendine i\u015faret ediyor. Swap e\u011frisinin \u00f6n\u00fcm\u00fczdeki alt\u0131 ay i\u00e7in politika faizini %3,50\u2019ye daha yak\u0131n fiyatlamas\u0131yla birlikte, faiz ortam\u0131 da daha g\u00fc\u00e7l\u00fc won lehine kalmaya devam ediyor.<\/p>\n

Pozitif g\u00f6r\u00fcn\u00fcm\u00fcm\u00fcz, G\u00fcney Kore\u2019nin FTSE D\u00fcnya Devlet Tahvili Endeksi\u2019ne (WGBI) tam dahil olmas\u0131n\u0131n nihai a\u015famas\u0131n\u0131n Kas\u0131m 2026\u2019da ger\u00e7ekle\u015fecek olmas\u0131yla daha da g\u00fc\u00e7leniyor. Bu kritik geli\u015fmenin, yerel tahvil piyasas\u0131na 60 milyar dolara kadar d\u00fczenli yabanc\u0131 sermaye giri\u015fi yaratmas\u0131 ve para birimine kal\u0131c\u0131 talep olu\u015fturmas\u0131 bekleniyor. Yat\u0131r\u0131mc\u0131lar bu yap\u0131sal de\u011fi\u015fimi, istikrarl\u0131 de\u011ferlenmeden faydalanmak amac\u0131yla KRW uzun forward s\u00f6zle\u015fmelerine girerek de\u011ferlendirebilir.<\/p>\n\n

Makroekonomik Etkenler ve Risk Y\u00f6netimi<\/h3>\n\n

Buna ek olarak, G\u00fcney Kore\u2019nin makroekonomik temelleri son derece g\u00fc\u00e7l\u00fc kalmay\u0131 s\u00fcrd\u00fcr\u00fcyor; son d\u00f6nemde ayl\u0131k bazda 9 milyar dolar\u0131n \u00fczerine \u00e7\u0131kan b\u00fcy\u00fck cari fazla bu g\u00f6r\u00fcn\u00fcm\u00fc destekliyor. KRW\u2019nin, ekonomik g\u00fcc\u00fcne k\u0131yasla belirgin \u015fekilde d\u00fc\u015f\u00fck de\u011ferli oldu\u011funu ve yukar\u0131 y\u00f6nl\u00fc hareket i\u00e7in \u00f6nemli alan bulundu\u011funu d\u00fc\u015f\u00fcn\u00fcyoruz. USD\/KRW al\u0131m (call) opsiyonlar\u0131n\u0131n sat\u0131lmas\u0131, yat\u0131r\u0131mc\u0131lar\u0131n prim geliri elde ederken kurdaki beklenen a\u015fa\u011f\u0131 y\u00f6nl\u00fc harekete pozisyon almas\u0131na imk\u00e2n verebilir.<\/p>\n

Merkez bankas\u0131 daha fazla \u201cveri odakl\u0131\u201d bir duru\u015fa ge\u00e7mi\u015f olsa da, altta yatan ekonomik tampon won lehine pozisyonlar i\u00e7in g\u00fc\u00e7l\u00fc bir g\u00fcvenlik a\u011f\u0131 sa\u011fl\u0131yor. K\u0131sa vadeli k\u00fcresel piyasa oynakl\u0131\u011f\u0131na kar\u015f\u0131 kald\u0131ra\u00e7 oran\u0131n\u0131n makul tutulmas\u0131n\u0131 ve son diren\u00e7 seviyelerine yak\u0131n s\u0131k\u0131 zarar-kes (stop-loss) seviyeleri belirlenmesini \u00f6neriyoruz. Opsiyon collar stratejilerinin kullan\u0131lmas\u0131 da, Kas\u0131m WGBI takvimi \u00f6ncesi beklenen giri\u015flerden faydalan\u0131rken a\u015fa\u011f\u0131 y\u00f6nl\u00fc riski s\u0131n\u0131rlamaya yard\u0131mc\u0131 olabilir.<\/p>\n\n\n\n

Hemen i\u015flem yapmaya ba\u015flay\u0131n \u2014 ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in buraya<\/a> t\u0131klay\u0131n.<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":"

BoK\u2019un faizi %3,00\u2019e \u00e7\u0131karmas\u0131yla USD\/KRW bir y\u0131ll\u0131k dibe yakla\u015ft\u0131; swaplar %3,50+ fiyatl\u0131yor. WGBI\u2019ye tam dahilat 60 milyar $ giri\u015f getirebilir. Strateji: USD\/KRW short, KRW call\/forward, riskte stop-loss.<\/p>\n","protected":false},"author":87,"featured_media":49977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-53333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t