Dollar/TL Rate Continues to Rise in Global Markets

Dollar/TL Rate Continues to Rise in Global Markets Dollar/TL rate continues to rise in global markets. On the day when the domestic markets were on holiday due to the Republic Day, the dollar / TL was traded close to record levels. On the day when the last inflation report of the year was announced by the CBRT, the dollar / TL exceeded the level of 8.32, reaching an all-time peak. The US dollar gained value against the currencies of developing countries as the measures taken due to the increasing coronavirus cases in global markets stimulated the demand for safe harbors. On the day when the domestic markets were closed, the dollar / TL rate was traded close to the highest levels in its history. While France and Germany announced partial quarantine measures in Europe, the anxiety in the markets again increased, while the dollar gained value against other currencies. German Chancellor Merkel and French President Macron announced on the same day that a partial quarantine decision was taken in their country. The dollar / TL rate, which has been rising with the effect of geopolitical pressures for a while with the course of the dollar in the global market, broke the historical record by exceeding the level of 8.32 on the day the CBRT announced the last inflation report of the year. In 2020, when developing currencies depreciated against the dollar, the loss of the Turkish Lira against the dollar reached 28 percent.