Dollar / TL Rate Dropped Hard!

Dollar / TL Rate Dropped Hard! Dollar / TL rate dropped hard! The dollar TL exchange rate, which saw the level of 7.50 this morning, dropped to the level of 7.41. The US dollar, which started with a depreciation on the first business day of the week, continues to lose. With the loss of the US dollar, Turkish lira assets continue to appreciate. On Monday, December 28, the dollar TL rate decreased to the level of 7.4117. Following this level dollar/TL traded at the level of 7.4241 at 2:30 pm. Euro / TL exchange rate was at 9,0555. The currency basket also dropped to the level of 8.2449. With the interest rate decisions on the MPC Meeting of the Central Bank of the Republic of Turkey (CBRT)  exchange rates began to decline. The dollar/TL exchange rate, which dropped to the level of 7.70 immediately after the decision, decreased to 7.55 levels and closed the week at 7.5529. Central Bank of the Republic of Turkey (CBRT) carried Monetary Policy Committee meeting decided to increase the interest on Thursday December 24. The CBRT increased the interest rates higher than expected and applied a 200 basis point increase and the policy rate increased from 15 percent to 17 percent. On the other hand, the new CBRT President Naci Ağbal's emphasis on tightening policy and low inflation target were perceived positively for the market, and TL assets started to gain value.