Dollar / TL rate Started the Day Horizontally

Dollar / TL rate Started the Day Horizontally Dollar / TL rate started the day horizontally. The dollar rate was calm the day after the CBRT's interest rate hike decision. After the CBRT increased the interest rate above expectations USD / TL rate started the following day on a stable course. The fact that most of the foreign markets were closed due to the Christmas holiday brought the dollar exchange rate to a horizontal course. The MPC meeting of the Central Bank of the Republic of Turkey resulted in an increase above expectations. After this development, 7.55 levels were seen in the US dollar yesterday. Central Bank of the Republic of Turkey has increased its policy rate by 200 basis points. Accordingly, the policy interest rate increased to 17 percent, which was 15 percent before. In the decision text of the CBRT, it was stated that a strong monetary tightening was decided, taking into account the 2021 year-end forecast target, in order to eliminate the risks regarding the inflation outlook, to control inflation expectations and to restore the disinflation process as soon as possible. On the other hand, Turkey's risk premium fell to 318 levels.