Turkish Lira Is Declining Against The US Dollar

With the strengthening of the US dollar in global markets, TL became the developing country currency that lost the most value in the transactions on Thursday.

Turkish lira is declining against the US dollar. While the USD is rising in global markets, the Turkish lira became the most depreciated developing country currency in Thursday's transactions. The Bloomberg Dollar Spot Index, which measures the US dollar's performance against ten major currencies, climbed 0.2 percent from 1.117 to 1.119 on the day of the epidemic. The 10-year US Treasury yield rose 1 basis point. While the USD/TL exchange rate gained 0.52 percent on Thursday and rose to 8.63 level, it has been trading above 0.7 percent since the beginning of the week. While the Turkish lira was recorded as the currency of the developing country that lost the most value against the dollar with 0.4 percent depreciation today, South African rand took the second place with a 0.31 percent depreciation.