Dollar/TL Rate is Moving Horizontally on the Last Day of 2020

Dollar/TL Rate is Moving Horizontally on the Last Day of 2020 On the last day of 2020, the dollar/TL rate is moving horizontally. The dollar / TL exchange rate, which declined to the level of 7.30 in Wednesday's transactions, maintained its steady course on the last day of the year. The Dollar / TL exchange rate was pulled to the 7.30s on Wednesday and completed the day at 7.3841 after seeing its 200-day average. The currency is flat on the last day of 2020. The USD / TL, which did not change much compared to the previous close at 11 am, traded at 7.3751. While Euro / TL was traded at the level of 9.0665, the currency basket was recorded as 8.2201. Downward trend continues in exchange rates after the interest rate hike decision taken by the Central Bank of the Republic of Turkey (CBRT) last week. Dollar / TL dropped from 7.70 to 7.55 last week and completed the week at 7.5529. The Turkish Lira, which has appreciated against the dollar in the last week, has been performing at its best against the dollar since May. The decline in the rate in the last 7 days is over 2. BIST 100 Index closed the day at 1.479.91 points with 1.38 percent gain in Borsa Istanbul. The indicator index regressed slightly in the morning hours today. Turkey's yield on 2-year Treasury bonds was 14.9 percent, remained unchanged. The yield on 10-year dollar bonds declined by 10 basis points to 5.41 percent. The 5-year loan default swap (CDS) premium has been withdrawn to almost 300 basis points. In the article of Gedik Investment, "Dollar / TL exchange rate fluctuated between 7.3082 and 7.3960 levels yesterday and closed the day at 7.3853. Besides the weak trend in the dollar index, Minister Çavuşoğlu's "It was the first time since August 28 that the currency was tested at 7.30 levels." statements took place. The following was stated in the Yatırım Finansman bulletin: “Dollar / TL tested the 200-day moving average of 7.3070 yesterday. If it is below this level, the next support we will follow at 7.21. However, it may be possible to see below 7.0 level in the medium term.”