The dollar/TL exchange rate breaks all-time record reaching 10 TL
The depreciation of the Turkish Lira has broken an all-time record. The dollar/TL exchange rate reached 10 and saw the highest level. At around 21:20 on Friday November 12, the dollar / TL reached the level of 10.00336.
The dollar’s course was influenced by inflation which recently exceeded expectations in the United States and recorded the fastest rise in 31 years.
The tightening foreign payment schedule in November and December and the upcoming meeting of the Central Bank of the Republic of Turkey (CBRT) Monetary Policy Board had a major impact in pricing.
The dollar/TL, which was reactivated after the markets closed, tested the 10 figure at around 21:30. The inflation-monetary policy concerns that persist in Turkey are also having an impact on the consecutive records in dollar/TL.
