The dollar keeps breaking records: The latest on the dollar and other currencies
The dollar / TL has renewed its historic peak, rising above 8.32. Euro / TL is trading at 9.75. Markets will be open half a day before Republic Day on October 29.
Apart from Haiti’s local currency, the Turkish lira was the most depreciating currency against the dollar this week.
The dollar/TL is at a new historic peak, rising as high as 8.3224 due to geopolitical concerns, as the Central Bank (contrary to expectations) keeps its policy interest rate steady and tightens by expanding the interest rate corridor.
Among the factors affecting the depreciation of the TL, which is accompanied by a negative separation from similar currencies, are fears that tensions may increase with the EU and the United States due to geopolitical developments in recent days. President Tayyip Erdogan repeated his speech at the weekend to French President Emmanuel Macron that “he needed mental treatment for his attitude towards Muslims, after he said the US was too late to sanction.”
