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The dollar / TL, which started the active week and gained 5 percent in value yesterday, returned some of its gains today. The USD / TL traded within the 8.05 – 8.38 range during the day. At the end of the day, the exchange rate rose 1 percent to 8.20 levels.
With the new appointments in the economic management in the market, the messages on the monetary and financial policies to follow are followed. Following yesterday’s announcement by the CBRT governor, Naci Ağbal, pointing to November 19, messages from the new Finance and Finance Minister Lütfi Elvan were followed today. The Minister of Finance and Finance, Lütfi Elvan, who began his position by being sworn in in Parliament, emphasized the fight against inflation and fiscal discipline in his first message in the markets. Elvan said they will focus on a market-friendly transformation program.
After the announcement towards the end of the day, the withdrawal to the currency became more evident. Finding buyers above 8.30 in the morning, the dollar fell to the 8.20 level towards the close.
“The market will be pending until PPK
Analysts It is of the opinion that investors will focus on the Central Bank’s (CBRT) interest rate decision from November 19 onwards. Some experts are of the opinion that as long as it remains above 8.10, there will be a return to last week’s averages and the market will be on hold until PPK. Noting that the outlook above 8.40 is negative for TL, some analysts say that the movement of the dollar index will be decisive in the movement of the exchange rate.
“Foreign entry into the market”
By the way, September 13 in dollars / TL 2018’deki After the 8 percent drop, the highest rate of decline occurred on Monday, November 9. HMuch of the movement is claimed to be through foreign investor transactions.
‘Market-friendly’ message from Minister Elvan
