Economy in Turkey: After Central Bank increases interest rate, dollar exceeds 24 TL

There were interesting developments in the currency after the Central Bank’s interest rate decision. After the Central Bank’s interest rate decision, the dollar/TL rate exceeded 24. With the dollar rising above 24 TL, gram of gold also reached the level of 1500 TL.

The most widely discussed interest rate decision in the history of Turkey was experienced today. After the decision, activity began in the foreign exchange markets. After the decision of the Central Bank’s Monetary Policy Board (PPC), the most important question was “How many liras will the dollar be at most?” According to the announcement made to the public by the Central Bank, the policy interest rate became 15 percent. The interest rate, which came in below expectations, stimulated the foreign exchange market.

After the announced interest rate decision, the exchange rates, especially the dollar and the euro, became clear. The first reaction from the markets came to the Central Bank’s interest rate decision.

Dollar /TL is trading at 24.13, an increase of 2.5 percent compared to its previous close. The exchange rate was at the level of 23.50 lira before the interest rate decision.

Euro /TL, on the other hand, is priced at 26.53, rising by 2.5 percent during the day.

SOURCE: halktv.com.tr Economy Service