13.12.2024 11:00
A new record was set for the exchange rate. The US dollar broke through the resistance level it had been trying to surpass for a long time, rising to 34.60 and then to 34.95 lira.
Due to fluctuations in global markets, the dollar/TL approached the level of 35, renewing its historical peak.
The decreasing expectations for interest rate cuts by the American Central Bank (FED) have increased volatility in the foreign exchange markets. The dollar/TL rate surpassed the level of 34.60, which it had been at for a long time, and set new records. Initially reaching 34.84, the dollar then rose to as high as 34.95 lira.
HOW MUCH IS THE EURO?
The euro started the day at 36.6110 lira. The selling price of the euro was 36.7120 lira.
FED INTEREST RATE CUT EXPECTATIONS WEAKEN
Market experts pointed out that the likelihood of the FED maintaining its tight monetary policy has increased, indicating that this situation could further elevate exchange rates in developing countries. It is stated that the pressure on the Turkish Lira has increased, especially due to high inflation and global uncertainties.
MARKETS ARE NERVOUS
The uncertainty surrounding the FED's interest rate decisions is reducing investors' risk appetite, leading to fluctuations in exchange rates in developing markets like Turkey. The increase in exchange rates may raise import costs and affect the general price level, potentially making economic policies more critical in the upcoming period. Analysts predict that the markets are closely monitoring both global and local developments and that the rise in the dollar rate may continue. During this process, the measures to be taken by the government and the Central Bank are eagerly awaited. The American dollar has reached a historical peak against the Turkish lira.