Fluctuation in Dollar Continues

Fluctuation in Dollar Continues

The dollar / TL, which was traded at 7.28 during the day, started to be traded at 7.34. The US Federal Reserve's Chairman Jerome Powell's statements on inflation caused fluctuations in the markets. The belief that inflation in the United States will remain low in the medium term caused the dollar to decline in global markets. Despite the fluctuations in the market after Powell's statements, the dollar increased for a short time, but the perception of inflation could not prevent the dollar from falling in global markets. The US Dollar index traded at 92.40 after testing the lowest level in the year at 92.17. In a market environment where global risk appetite is high, the dollar continued to depreciate against the currencies of developing countries. The best performer was South African rand, with a gain of 1.8 percent; The Brazilian real, Mexican peso, and ruble followed, respectively, the South African rand.

The USD / TRY exchange rate was traded first at 7.28 and then at 7.34.

On the last day of the week when the risk assets appreciated, the decline on the currency side remained at normal levels. By the last hour, the USD / TRY rate is 7.34; EUR / TRY is at 8.73; GBP / TRY traded at 9.75 and CHF / TRY is at 8.10. BIST 100, which had increased in the last two weeks, decreased to 1,083 points after reaching 1,118 points this week. Turning down its direction on a daily basis, the index traded at 1.099 in the last hour. Following the Central Bank of the Republic of Turkey MPC summary says it may increase inflation. The CPI, which will be announced on Thursday, September 3, is expected to rise above 12 percent again. CPI reached 12.62 percent in June, reaching its highest level in the year; In July, it was recorded as 11.76 percent again.

This Content May Also Interest You: Powell's Statements Caused Volatility in the Markets