High tension in dollar TL rate: All eyes on Fed and CBRT decisions
Despite the 4.5 billion dollar intervention of the Central Bank in the last two weeks, the dollar exchange rate started the day by seeing 14,65. Eyes will be on the Fed today and on the CBRT tomorrow, regarding new developments in exchange rates.
The dollar /TL continues to trade above 14, after four direct interventions by the Central Bank (CBRT), which are calculated to exceed 4 billion dollars.
In the morning, the dollar exchange rate was 14.65 and the euro exchange rate was 16.53.
The markets will be following the budget data for November today, while the decision of the US Central Bank (Fed) will be followed as a direction-setter after the close.
The meeting of the CBRT Monetary Policy Board (CPC), which will begin today and the results of which will be announced tomorrow, is another decisive development that will be followed this week.
ANOTHER RATE CUT EXPECTED FROM CENTRAL BANK
While inflation concerns are increasing in Turkey, the CBRT is still expected to continue its interest rate cuts.
Despite the expected increase in inflation to 21.31 percent within a few months at the 30-year peak of 21.31 percent, the possibility that the CBRT will go for another interest rate cut in December is preventing the TL from recovering as well as reducing its value to historic lows.
