Foreign Currency Markets Reports After Eid al-Adha Holiday
Today’s exchange rates for USD and EUR against the Turkish Lira (TRY), and the latest developments in interbank forex rates are closely monitored post-Eid al-Adha holiday.
During the day, the USD/TRY tested the 33 level but retreated to around 32.86 with a 0.25% decrease. Similarly, the EUR/TRY dropped by 0.45% to 35.18.
Tomorrow, markets await the Central Bank’s interest rate decision, while Friday will see the Financial Action Task Force (FATF) monitoring compliance with anti-money laundering regulations, including Turkiye’s status on the grey list.
The Economic Coordination Council (EKK) discussed green transformation in industry, digital Turkish Lira (TL), and social investment ratings in its recent meeting. Decisions were made to review employment incentives and expedite investment-commitment-based advance credits.
Focus on Interest Rate Decision
The Central Bank will announce its interest rate decision tomorrow, widely expected to maintain the rate at 50%. Market attention also remains on overnight rates periodically falling below the policy rate, which climbed back above 50% yesterday.
The Central Bank is reportedly considering new measures to stabilize overnight rates fluctuation.
Source: NTV / Prepared by Irem Yildiz