USD/TL Declined After Inflation Report

After the inflation report, the USD/TL exchange rate declined. After the report, the USD/TL rate decreased to around 8.50.

The positive atmosphere that spread to the markets after the FED (US Federal Reserve) meeting held yesterday continued to be effective after the Inflation Report released by the Central Bank of the Republic of Turkey. Decreasing to 8.4865 during the day, the lowest level since July 16, the USD/TL exchange rate was at 8.5125 with a decrease of 0.4 percent. While the BIST 100 index increased by approximately 1.7 percent to 1,383 points, the highest level since July 8, the strong trend in the industrial index plays a major role in the rise. CBRT Governor Şahap Kavcıoğlu spoke at the press conference where he announced the Inflation Report, said that they revised their year-end inflation forecasts upwards. According to Kavcıoğlu's statements, the year-end inflation forecast was increased from 12.2 percent to 14.1 percent. After the statements, the course of the USD/TL Exchange rate continued around 8.50 continued. Euro/TL rate is also moving horizontally at 10.12 today.