US dollar continues to rise against TL

The rise in exchange rates is continuing  today. The level of 14.80 in dollar / TL and 16.45 in euro/ TL was exceeded. The Russian invasion of Ukraine and sanctions continue to affect the Turkish economy, as well as exchange rates.

The dollar / TL, which started the day at the levels of 14.60, was seen at the level of 14.83 today. The euro / TL, which started the day at 16.20, also saw a level of 16.47. Today, the TL is the currency which has lost the most value against the dollar after the Russian ruble, among the developing countries.

With the war, Turkey’s import bill, especially energy, is growing rapidly, while export and tourism revenues are expected to fall. The increase in the current account deficit is also putting pressure on the TL.