Dollar Exchange Rate Today: May 21, 2024 (Dollar-Euro Prices)

As of May 21, 2024, the dollar exchange rate stands at ₺32.19 Turkish Lira (TL), while the euro exchange rate hovers around ₺34.97.

Throughout April and into May, the dollar/TL exchange rate has maintained a relatively steady trajectory, with minimal fluctuations.

Minister of Treasury and Finance Mehmet Şimşek emphasized the government’s intervention in the foreign exchange market, stating that without such measures, the dollar/TL rate could have fallen even lower. Record reserve accumulation by the Central Bank (CBRT), amounting to $51 billion since the local elections, further illustrates efforts to stabilize the exchange rate.

Şimşek highlighted the CBRT’s unprecedented pace in accumulating reserves, signaling a high level of interest in the Turkish Lira (TL) and hinting at potential relaxations in swap restrictions to encourage long-term usage.

The forthcoming interest rate decision by the Central Bank, scheduled for announcement on Thursday, is anticipated to maintain the policy rate at 50%, maintaining stability in the currency market.

Source: NTV / Prepared by Irem Yildiz

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