Turkish Lira Slightly Rebounds Amid Global Market Pressures
The Turkish Lira showed signs of recovery in today’s trading as the Dollar/TL exchange rate dipped by 0.3%, bringing it to 33.50, while the Euro/TL fell by 0.4% to 36.62. Despite the brief respite, the Turkish Lira has lost over 1% against the Dollar this week, with the exchange rate peaking at a new high of 33.61.
Investors are closely watching the Central Bank of Turkiye’s (CBRT) upcoming inflation report, expected tomorrow, which could provide crucial insights into the country’s monetary policy direction.
In other financial news, Treasury and Finance Minister Mehmet Simsek announced that Turkiye is in the final stages of securing a $2.5 billion external financing package. Meanwhile, the CBRT made no foreign currency purchases through rediscount credits in July, marking the first time since 2013 that monthly acquisition data recorded zero.
Source: NTV / Prepared by Irem Yildiz
