According to Bloomberg, with the opening of Asian markets, the Turkish Lira began to diverge negatively from other currencies. The dollar rose to the level of 8.40.
In Turkey, almost everyone in some way for controlling the dollar exchange rate affect the lives of many steps had been taken in recent years. Even with the recent interest rate hike with Turkey among the countries with the highest interest had taken place.
With the opening of the Asian markets, sudden movements in the dollar exchange rate began to be observed. The dollar price rose as high as 8.40, according to Bloomberg. As the markets close on Friday dthe rate was at the level of 7.21 TL.
Serious increase in dollar
Bloomberg’de the dollar rate is 8.39 TL while appearing, at the moments we wrote this news, QNB was in Finansbank Enpara Paying 8.51 TL to get 1 dollar had to. Euro is on sale for 10,18 TL. In Vakıfbank, USD sales are sold at 8.25 TL, Euro sales at 9.5 TL and pound sterling at 11 TL.
On the other hand, according to the shares made on the internet, some banks in foreign exchange transactions scissors open up to 1.5 TL expressed. Of course, this may be the effect of the negative divergence in Asian markets at the moment. Midnight Opening FX exchanges will make the situation clearer.
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In general, after the shock effect in the first moment, the markets seem to have stabilized at these levels. Of course how the markets will be in the morning There is not much information about it, but an intervention will come depending on the situation in the first hours of the morning.
Is the increase in dollar real?
The United Nations, Makes Statement Towards Withdrawal from Turkey’s Istanbul Convention
In recent days, we need to look at the agenda of Turkey Unilateral exemption from the Istanbul Convention, need Dismissal of CBRT President They seem to be decisions that will direct foreign investors to be more distant to TL. Consequently, opening the markets will bring an increase in exchange rates.
On the other hand, it should be said that the current exchange rates are quite risky. The reason why the scissors are so open is probably because banks do not trust the fragility of the TL. Directly indexed to dollars and USDT, which was in circulation over the weekend, is currently 7,72 TL’Let us also state that.