12.07.2024 12:20
The dollar is showing a flat trend starting at 32.98 liras in the Istanbul free market. As of 12:00, 1 US dollar exceeded 33 TL. While moderate upward evaluations are made for the dollar and TL, attention is turned to interest rate cuts from the US.
The dollar, which started the day at 32.98 lira in the free market in Istanbul, is observed to have a moderate upward trend. The euro also started the day at 35.85 TL. Yesterday, the selling price of the dollar was 32.83 lira, and the selling price of the euro was 35.86 lira.
As of 12:00, it is seen that the dollar reached the level of 33 TL, and the euro rose towards 35.92 TL. Upward and gradual movements are observed in the dollar and euro.
POSITIVE INFLATION FIGURES IN THE US
The inflation figures announced in the US are among the factors that determine the course of the dollar. The inflation data for June announced in the US was below expectations. Despite the market's expectations of an increase, consumer prices in the country decreased by 0.1% in June compared to the previous month, marking the first decline since May 2020. The incoming inflation figures strengthen the expectation that the US Federal Reserve will cut interest rates, and the message of 'cautious stance' in Fed Chairman Powell's previous statement is also taken into account.
On the other hand, the statement of the Governor of the Central Bank of the Republic of Turkey, Fatih Karahan, at the JP Morgan investor meeting, stating that Turkey is on the threshold of disinflation and the message of tight monetary policy are also important in terms of the course of the dollar/TL. Developments in the dollar exchange rate are evaluated as 'moderate increase in the exchange rate'.