Dollar / TL Tested the 7.60 Level!

Dollar / TL Tested the 7.60 Level! Dollar / TL tested the level of 7.60. USD / TL reached an unprecedented level on the first trading day of the week. AHead of this week’s Policy Meeting of the Central Bank of the Republic of Turkey’s (CBRT), the dollar / TL rate reached the highest level in the history on the first trading day of the week. In addition, the Euro / TL exchange rate tested above 9 and broke a record. Accordingly, the dollar / TL exchange rate showed vertical movement in all but one of the last 16 sessions. After these levels, TL recovered some of its losses and returned to the US dollar / TL 7.5900 and Euro / TL 8.9550 levels. It is not anticipated that the CBRT will change the policy rate at its meeting on Thursday. However, some analysts suggest that policy makers may raise the upper limit of the interest rate corridor. It is said that this move will allow the funding costs to be increased and alleviate the pressure on the TL without changing the policy rate, which is currently at 8.25 percent.