Dollar / TL Rate Took Flight!

Dollar / TL Rate Took Flight! Dollar / TL rate took flight! The USD / TL rate exceeded the level of 8.0 and broke a new record. With the rapid increase in coronavirus cases worldwide and with the expectation that the financial stimulus package in the USA will remain after the presidential elections, the dollar gained value in global markets and started the new week with a record increase. In the domestic markets, the rising exchange rates opened the new week by breaking a record, as the CBRT kept the interest rate constant at the PPK meeting held last week. Before the PPK, the dollar / TL rate dropped to 7.78, with the markets expected interest rate hike, to 7.98 on Friday; today it passed 8.02 and broke a new historical record. While Euro / TL rate exceeded 9.48, British pound / TL rate exceeded 10.44. In addition to the appreciation of the dollar on a global basis, the policies applied on the TL and political and geopolitical tensions also have a great effect on the rise in exchange rates.