USD/TL Rate Declined With Expectations For Peace

USD/TL exchange rate declined with expectations for peace. Representatives of Ukraine and Russia met today.

The positive statements of the representatives of Russia and Ukraine, who met in Istanbul today, and the announcement of the Russian Ministry of Defense that the operations in Kyiv and Chernihiv would cease, which caused a spike in the markets. With the pricing of peace, indices rose, while oil, gold and USD started to decline. Brent oil, which had regressed due to the increasing optimism about the negotiations in the markets as of yesterday, continued to decline and fell below $100 today. Losing 10% in value on a weekly basis, oil's earnings at the beginning of the year decreased to 33%. An ounce of gold, which was traded at $1,958 at the beginning of the day and then regressed to $1,924 yesterday, fell to $1,890 with a loss of more than 1% today, erasing all its gains in March, and the annual return of the precious metal fell to 4%. The US Dollar Index, which had risen above 99.0 yesterday, fell 1% to 98.0 today. The USD/TL rate, which was priced near the 14.85 level during the day, declined by nearly 2% to 14.53 after the positive negotiations. The exchange rate saw the lowest level after March 17. Earnings per year decreased to 9% in the exchange rate, which rose 5% on a monthly basis. The ruble is up today, with USD/RUB slipping to 83.07, erasing its March gains. On March 7, the exchange rate rose to 160.0 in the free market. Along with today's decline, the increase in the rate at the beginning of the year was also reduced below 20%.     Source: Investing.com