After the Central Bank statement that it was keeping interest rates constant in line with expectations and not including any cuts in short-term interest rates dollar / TL It is trading around 8.55.
This week there will be half day trading in the markets due to the Eid holiday. The markets will be closed for the rest of the week.
The dollar / TL has been trending calm and bearish for about 3 weeks. The exchange rate went from 8.75 levels to 8.60 and then 8.50 levels.
Euro / TL That’s over 10 lire.
The realization that the interest rate will remain at 19% for the next month after the central bank left the policy rate unchanged last week, has partially eased fears of early interest rate cuts. The bank’s announcement that it will have a current account surplus for the remainder of the year also heightened expectations that a balanced price could be formed in the forex market during the summer months.
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