US Dollar/ TL rate starts the week with a new record

The dollar continues to rise after the Central Bank’s interest rate cut. The dollar/ TL exchange rate started the week with a new record. The exchange rate also exceeded the 18.44 level in shallow trading in Asian markets, renewing the record level it saw intraday.

After the 75 basis point interest rate increase of the US Central Bank (Fed) and the 100 basis point interest rate cut of the Central Bank of the Republic of Turkey (CBRT) last week, the dollar, which saw the 18.41 lira, saw the 18.44 on the first day of the new week.

US dollar later stabilizes at 18.43 TL

On the other hand, the euro started the day with a decline from 17.77 lira due to the Fed effect. The euro had closed the previous week at 17.85 lira.

Last week, with the effect of the Fed’s hawkish messages and the Central Bank of the Republic of Turkey’s 100 basis point interest rate cut, the dollar / TL exchange rate had renewed the record it broke in December 2021.

On the first trading day of the new week, Turkey’s risk premium increased to 781 basis points, while the 2-year benchmark bond interest rate is at 13.99 percent.