Downward Trend Continues in USD/TL Rate

The downward trend continues in USD/TL rate. Yesterday, the exchange rate, which dropped to 7.28 in intraday transactions, completed the day at 7.30. While the momentum in the USD / TL exchange rate accelerated its downward trend, the critical technical level, the 200-day moving average, was broken downwards. The exchange rate, which completed yesterday at 7.3091, traded at 7.2783 with a loss of 0.42 percent at 10:05 am, after pulling to 7.2708 in the morning hours. Euro / TL exchange rate decreased by 0.35 percent and was traded at 8.9776. After completing the currency basket at 8.1578 yesterday, it traded at the level of 8.1280. The dollar has not changed much against major currencies today. BIST 100 Index started the day with 0.64 percent gain after closing 1.06 percent positive on Borsa İstanbul. The yield of 2-year Treasury bonds in Turkey decreased by 3 basis points and was realized as 14.9 percent. The yield on 10-year dollar bonds increased by 1 basis point to 5.54 percent. The 5-year loan default swap (CDS) premium fell 6 basis points to 311 basis points. Central Bank of the Republic of Turkey (CBRT) will share weekly securities and bank data today. Foreign investors were net buyers in Turkish bonds and net sellers in stocks the previous week.