USD/TL Rate Started the Day with a Horizontal Movement

USD/TL rate started the day with a horizontal movement. While the markets focused on the FED decision, the US dollar rate was stable.

The dollar/TL exchange rate, which completed Tuesday at 7.34 levels, started the day stable before the FED (US Federal Reserve) announces its interest rate decision. Turkish lira traded at 7.3626 against the dollar on Wednesday. While the level of transactions was at 8.9579 against the Euro. The currency basket was recorded as 8.1605. The yield on two-year Treasury bonds in Turkey did not change much, at 14.7 percent. The yield of 10-year dollar denominated Treasury bonds declined 9 basis points to 5.71 percent. The 5-year loan default swap (CDS) premium fell 8 basis points to 322 basis points. BIST 100 Index in Borsa Istanbul closed Tuesday at 1,536 points with a decrease of 0.27 percent, while the trading volume in the indicator index was recorded as 32 billion liras. While the industrial index decreased 0.74 percent, the banking index also decreased 0.20 percent. Today, the domestic data agenda seems calm. In abroad, the January meeting of the Federal Open Market Committee (FOMC) will be followed, as well as the data on durable goods orders in the USA. Economic confidence index, foreign trade balance and tourism data will be monitored during the week. Central Bank of the Republic of Turkey (CBRT) President Naci Ağbal, for the first presentation of the Quarterly Inflation Report of the year will hold a press conference on Thursday at 10:30 am.   You may also want to read this: BIST 100 Index Started the Day with a Horizontal Movement