Why Is The Dollar In Excess Of 6.5 TL Rising All Over The World?

Why Is The Dollar In Excess Of 6.5 TL Rising All Over The World?

Due to the uncertainties about how long the threat of coronavirus pandemic will last and how it will have an impact on the economy, while the markets are shaking all over the world, investors sell all the risky assets in their hands and turn them into cash; It started to turn to the American dollar. This led to the rise of the dollar against almost all currencies. As of 19 March noon, the dollar / TL exchange rate exceeded the level of 6.50 in the market. The euro is trading at 7.06. The dollar rate saw over 6.50 pounds in July and September of 2018. The Euro / Dollar parity fell below 1.10, which analysts considered as support, and started trading at 1.0910. The dollar index, which continued to rise with investor purchases in search of a safe haven, was stabilized at 101 today after rising to 101.7, which was the peak of the last 3 years. Analysts said in a statement that the news flow regarding the Covid-19 pandemic and the measures taken by the economic administrations remain at the center of the agenda, and technically, 6.55 per dollar / TL will be monitored as resistance.