USD/TL Started the Day with Horizontal Movement

Dollar/TL paused its long-running rally early in the week on February 9.

USD/TL started the day with a horizontal movement. The US Dollar/TL rate, which interrupted the longest rally it has recorded since May 2020 at the beginning of this week, started the new trading day with a horizontal motion. The exchange rate gained 0.21 percent on Monday and completed it at 7.0731. The Bloomberg Dollar Index, which experienced a limited decline at the beginning of the week, started Tuesday with a decrease of more than 0.2 percent. The messages given by Naci Ağbal, the President of the Central Bank of the Republic of Turkey (CBRT), during his speech in the past weeks, supported the increase in the Turkish Lira. Pointing out that the tight monetary policy stance will continue in line with the aim of price stability, Ağbal met with TESK and TOBB officials within the scope of communication activities regarding price stability. In the statements made about the visits, it was noted that the negotiations were positive. Turkey's risk premium continued its course below 300 basis points. The benchmark bond interest was traded at 14.77 percent.