Dizzying mobility in dollar/TL rate

With the dollar/TL at 15.94 level this morning and approaching 16 even closer with the 10-day continuous rise and negative divergence from similar currencies, the sustainability of the exchange rate policy, which the market defines as publicly controlled, continues to be questioned.

It is not the main expectation in the markets that dollar TL rate will make a big jump like in December 2021. However, the main agenda item in the markets is whether the administration will allow (and if yes how without currency stock) the continuation of the 7.5 percent depreciation in TL against the dollar since the beginning of the month.

In the absence of new foreign exchange sources in the medium and long term, analysts note that the risks associated with the exchange rate policy, in which the administration is the determining factor, are major.