Published On: Tue, Jan 16th, 2018

Financial Markets: US Dollar/Turkish Lira rate tests 3.82 level




Financial Markets: US Dollar/Turkish Lira rate tests 3.82 level

US Dollar Turkish Lira Exchange Rates – BusinessTurkeyToday.com

When we look at the financial markets we see that the U.S dollar is on the rise due to increasing geopolitical risks in the region. The U.S dollar which started increasing again yesterday after statements by President Erdoğan announcing TSK (Turkish Armed Forces) had completed its preparations  for Afrin operation, has climbed up to 3.8236 today, hitting the top for the current year. Euro on the other hand was observed to be at 4.6888 TL.

When we look at today’s agenda we do not seen data flow to influence the markets today. Thursday and Friday are critical days for Turkish markets. Central Bank is expected to announce its interest rate decision on Thursday.  On Friday, Fitch is expected to announce its assessment of Turkey’s credit rating outlook.

Experts do not expect an increase in interest rates from the Central Bank. General expectation in markets is also in direction that no change is to come. On the other hand Fitch which evaluates Turkey below “investment grade” level is not expected to make a change either.



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