March 19 Exchange Rates: Dollar Reaches New High, Euro Surges Against TL

How many TL is Dollar – Euro? What was the dollar exchange rate last time? Dollar/TL continues to gradually rise. Today, Dollar/TL is traded above 32.30 and Euro/TL is traded above 35.

Dollar and euro prices continued their gradual rise with the increasing demand before the local elections.

Dollar/TL started the day around 32.33. Euro/TL found buyers at 35.14.

Stating that high inflation and the expectation of a correction in the exchange rate after the local elections increased the tendency towards foreign currency, analysts stated that the demand was quite limited compared to the general elections.

The interest rate decision to be announced by the Central Bank (CBRT) on Thursday this week is being followed as the main agenda item in the markets.

The Central Bank is expected to keep the policy rate constant at 45%.

According to bankers’ calculations, CBRT’s net reserves decreased by around $1.2 billion last week.

Dollar/TL reached its highest level yesterday at 32.39. The Turkish Lira lost 2.7% in January and 2.9% in February.

The markets will also watch the monetary policy meetings to be held this week by the central banks in the USA, UK, Switzerland, Norway, Australia, Indonesia, Taiwan, Brazil and Mexico.

The Bank of Japan (BOJ) ended the negative interest rate policy it had implemented for eight years and increased interest rates for the first time in 17 years.

Source: NTV / Prepared by Irem Yildiz

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