USD/TL Rate Entered an Upward Trend
USD/TL exchange rate entered an upward trend. Dollar rate has suspended its decline in all markets.
While the rally, which has been going on for three days in the world stock markets, calmed down this morning, the
US dollar recovered its losses against the currencies of developed and developing countries.
The Turkish lira, which has gained more than 3 percent against the US dollar in five consecutive days, has experienced a limited decline with global currencies as of this morning. While the benchmark bond interest rate was 14.77 percent, Turkey’s risk premium was traded just below the 300 level.
CBRT touched on the cumulative effects of the exchange rate in its inflation assessment for January. In the assessment of the bank,
Statements were made that the strong upward trend in producer prices continued due to the cumulative reflections of the exchange rate and the impact of international prices.
According to the CBRT's assessment, in core goods other than clothing; It was noted that price increases remained high due to cumulative exchange rate effects, demand conditions, ongoing supply constraints in some sectors and developments in international metal prices. Stating that despite a partial recovery in clothing inflation, low levels were maintained, the CBRT pointed out that energy inflation increased as a result of the rise in oil prices and the developments in managed / directed items such as electricity, water supply and natural gas.
In January, annual inflation dropped slightly in services, while the food group dropped due to the correction in prices of fresh fruits and vegetables; It was said that inflation in other food products increased due to the reflection of the increase in raw milk purchase prices and international agricultural commodity prices.