USD / TL Rate Is Stable

USD / TL rate is stable. It is observed that the exchange rate is calm today after the decline experienced yesterday.

The US dollar/TL rate, which recorded a rapid decrease at the beginning of the new month and the first trading day of the week, started the second trading day calmly. While the US dollar continued to fall in global markets, domestic markets focused on January inflation data. The USD/TL rate, which broke the critical 200-day average on Monday, tested the 7.16 level during the day. The currency basket fell below 8 for the first time since August. Looking at the global markets, it was seen that the dollar continued to fall. It was observed that the stance of more than 300 points continued in the risk premium, which was described as a critical indicator for Turkish assets. The benchmark bond interest was at the level of 14.69 percent.   Focus of the Markets is on the Inflation Data Domestic markets focused on January inflation data. According to the results of the Istanbul Chamber of Commerce (ITO) Istanbul Wage Earning Index, which is one of the leading indicators of January inflation, retail prices increased by 15.05 percent annually in January. Accordingly, the data in question recorded the highest level since August 2019. Prices increased by 1.16 percent on a monthly basis. Referring to the inflation issue after the cabinet meeting, President Recep Tayyip Erdogan said, "Let's achieve the inflation target together, but it is never possible with high interest rates. We can achieve this with low interest." Economists expect the January inflation rate to be 14.68 percent. If this forecast comes true, this level will be the highest inflation in the past 14 months.