USD/TL and Euro/TL At The Lowest Levels Since September!

USD/TL and Euro/TL are at their lowest levels Since September. Turkish Lira stands out as the valued country currency.

The US Dollar Index, which closed with a limited rise last week, is moving towards the level of 91.0 in the new week and the beginning of the new month, while the US dollar seems to be rising today against the major currencies excluding the pound. The US dollar, which was mixed against the currencies of developing countries at the beginning of last week, has started to decline earlier this week. While the Turkish Lira, which is among the developing currencies today, shows the strongest increase, the followed by pesos, zloty and rubles.   CBRT's Tight Stance Continues Stating that the tight monetary policy will be maintained for a long time in the inflation presentation after the MPC meeting, the interest rate cut will not be in question in the near term and even if necessary, the tight steps will continue to be taken upfront, and the CBRT supported the acceleration of the decline in the exchange rate. USD/TRY, which has been traded in the range of 7.33-7.43 in recent weeks, saw below 7.28 on Friday. The exchange rate dropped close to 1.5 percent today to 7.2027, testing the lowest level since August 21. The exchange rate, which declined to 7.50 after the change of the CBRT President in November and the resignation of the Minister of Treasury, declined to 7.2357 at the beginning of January. The decline in the exchange rate, which saw the highest 7.54 in January, accelerated with the break of the 7.35 resistance on Thursday and today the lowest level of the last 5 months was tested. While the decline in the Euro/TL exchange rate was about 2 percent, the exchange rate tested the lowest level since September 3 with 8.7040. Accordingly, the basket exchange rate also fell below 8.0 and recorded its lowest level in the last 5 months. It was stated that 7.24 in the dollar exchange rate could be followed as the closest support level, 7.17 for the six-day closings and in the euro exchange rate and 8.60 for the rest of the week.