Dollar/TL Maintains Its Stable Course

Dollar/TL Maintains Its Stable Course Dollar/TL rate maintains its stable course. The dollar/TL exchange rate, which completed Tuesday at the level of 7.3908, remained flat in the morning of today. After steps taken by the Central Bank of the Republic of Turkey (CBRT)  towards tightening, foreign currencies continues to their horizontal motion. The exchange rate, which closed Tuesday at 7.3908, started trading at 7.38 in the morning today. USD / TRY rate was 7.3797 at 9:55 am, the Euro / TL traded at 9.0921. The currency basket was recorded as 8.2386. The Bloomberg Dollar Spot Index (BBDXY), which measures the value of the dollar against major currencies, lost 0.11 percent to 1,114.42 points. While USD/TL closed 2020 at 7.4299 level, Euro / TL completed at 9.0747. The currency basket ended the year at 8.2582 level. BIST 100 Index in Borsa Istanbul started trading on Wednesday at 1,501 points with a gain of 0.81 percent, after closing Tuesday with 0.39 percent. The volume in the indicator index is positioned at 42.4 billion TL on Tuesday. In Turkey, the yield of 2-year Treasury bonds was recorded as 14.9 percent with a loss of 3 basis points. The yield on 10-year dollar bonds reached 5.5 percent with 6 basis points gain. The 5-year loan default swap (CDS) premium increased 10 basis points to 317 basis points. The US 10-year interest rate, on the other hand, remains at 0.98 percent after rising to 1 percent for the first time since March.