By Gokhan Ergocun
ISTANBUL (AA) -Türkiye's five-year credit default swap (CDS) fell to its lowest level since February 2020.
Türkiye's CDS -- a form of insurance for bondholders -- dropped to 240 basis points on Wednesday.
During the last year, it hovered between 242 and 370 points, while it saw an 840-point level in 2022.
Türkiye has been growing uninterruptedly for the last 20 quarters, while the country has also seen a decline in inflation.
Interest in Turkish lira assets continues to grow as the disinflation process underway domestically progresses positively.
The CBRT's entry into a cycle of interest rate cuts has also contributed to increased risk appetite in key domestic markets in the fight against inflation.
The CBRT's total reserves reached $180 billion last week, the highest level ever.
These developments continue to fuel foreign interest in Turkish lira assets, while Türkiye's borrowing costs are also declining.