Markets By TradingView

The Dollar/TL Exchange Rate Continues to Rise

The upward momentum of the Dollar/TL rate last week continues in the upward direction today. While the daily rise in the exchange rate...

The Dollar/TL Exchange Rate Continues to Rise
Yazar: James Gordon

Yayınlanma: 26 Mayıs 2022 04:23

Güncellenme: 23 Kasım 2024 11:58

The Dollar/TL Exchange Rate Continues to Rise

The upward momentum of the Dollar/TL rate last week continues in the upward direction today. While the daily rise in the exchange rate recorded the level of 1 percent, the level of 16.25 was also tested.

The Turkish lira depreciated against the dollar before the Monetary Policy Committee meeting of the Central Bank of the Republic of Turkey took place. Having exceeded the 16 level on Tuesday, the Dollar/TRY rate continued to rise by 1 percent on the new trading day and tested over 16.30. Among the reasons for the increase in the Dollar/TL rate, the expectation of a decrease in the Central Bank reserves is the first. While the benchmark bond rate is trading at 26.97 percent, Turkey's risk premium continues to be at its highest level since the 2008 financial crisis. The Turkish lira is stated as the currency of the developing country that has lost the most value against the dollar since the beginning of this year. SEB EU Chief Emerging Markets Strategist Per Hammarlund underlined the increasing pressure on the TL, and drew attention to persistently rising inflation, signs of slowing growth in Turkey and its main trading partners, and a 'misguided' monetary policy. Monex Europe Ltd. Simon Harvey, Director of FX, also emphasized that "deteriorating external financing position, rising inflation, further deterioration in inflation expectations, political separation with Western countries in NATO and the Central Bank's inability to change its policy in a way that will affect macro developments."
En Popüler Haberler

Yorum Yap

Yazılan yorumlar hiçbir şekilde Son Ekonomi Haberleri - Türkiye Dünya - ieconomy.io görüş ve düşüncelerini yansıtmamaktadır. Yorumlar, yazan kişiyi bağlayıcı niteliktedir.

Yorumlar

Henüz yorum yapan yok! İlk yorumu siz yapın...

Borsa, Kripto, Hisse, Emtia ve Döviz Haberleri

ieconomy: Türkiye'nin en kapsamlı ekonomi haber sitesi. Son dakika haberleri ve en güncel haberler ieconomy'da.