Dollar / TL Rises to 7.50 Before FOMC!

Dollar / TL Rises to 7.50 Before FOMC! Dollar / TL rises to 7.50 before FOMC! The dollar rate had seen as 7.50 at the beginning of the last week. Dollar / TL exchange rate is not falling off the agenda with the record it has broke recently. The dollar / TL rate, which broke a record at 7.27 in May, had a sideways trend at 6.80 between June and July. By the end of July, the exchange rate, which again exceeded the 7.0 level, negated the expectations for a decrease and reversed it. The dollar / TL exchange rate, which accelerated in August, reached the level of 7.43. The Turkish lira, which fell sharply in August and diverged negatively from developing countries' currencies, continued to decline in September. The dollar / TL exchange rate, which reached the 7.50 level at the beginning of the week, forced the 7.50 level again today. According to analysts' statements, the weakness of the TL in recent months, in addition to rising inflation, current account deficit and gradually decreasing foreign inflows; The coronavirus (Covid-19) pandemic is caused by the rush that the balance of payments will be difficult. On the other hand, the international credit rating agency Moody's lowered the credit ratings of 13 Turkish banks. The institution, which reduced the rating on Friday last week, also showed the same reasons for the reduction of the credit rating of the banks.