Read the article titled:"Turkish Lira Hits Record Low, SpurringExpectations of Rate Rise"from The Wall Street Journalpublished onAugust6, 2020and answers the following questions.

1. Starting from the new exchange rate equilibrium(E1TL/US$)you found in part (a), use the figure below to show the effect of central bank intervention in theforeignexchangemarket. Briefly explain the Turkish government's concerns about a weaker lira.
2. Show and explainhow the intervention in the foreign exchange market will changethe balancesheetof Turkey's Central Bank.You do not have to use actual data, justshowand explainwhich components of the balance sheetwould change (upordown).