USD/TL Exchange Rate Exceeded 8.50!

USD/TL exchange rate exceeded the level of 8.50! This level was above the peak experienced after the change in the CBRT.

Turkish Lira diverged negatively in the first part of the trading day when domestic markets were closed due to the Ramadan holiday. Following the inflation far above the expectations in the USA, the strengthening in the dollar was replaced by a horizontal course, while the USD/TL rate rose above 8.50. The basket currency broke the record by exceeding 9.39. As a result of these data, the peak level observed after the change in the governorship of the Central Bank of the Republic of Turkey (CBRT) was exceeded. The Turkish Lira, Thai baht and South Korean won were negatively differentiated among the currencies of the developing countries. Turkey's risk premium was traded at 416 basis points. While the risk appetite decreased as the US inflation increased inflationary concerns, there was a decline in the stock markets. April inflation data in the country increased by 4.2 percent on an annual basis, reaching the peak of the last 13 years.