How many TL is Dollar – Euro? What was the dollar exchange rate last time? Here’s the latest situation in foreign exchange rates in the interbank market.
Dollar/TL started close to its peak level on the first trading day after the holiday.
Dollar/TL is traded around 32.41 in the first transactions. Euro/TL changes hands at 34.57.
The increasing Turkish Lira need of domestic investors before the Eid holiday brought about conversions from foreign currency. The TL deposit return that came with the interest rate increases also created downward pressure on the dollar/TL.
The dollar index, which carried the upward trend for the 3rd trading day in a row, closed the day at 106 with an increase of 0.7% on Friday, and on the first trading day of the new week, it was at 105.9, 0.1% below its previous closing.
Analysts stated that the tension in the region decreased after the tension that increased due to Iran’s retaliatory attacks against Israel over the weekend ended and US President Joe Biden announced that he would not support Israel in a possible counter-attack, and said that the intense data agenda, as well as the developments in the region, became the focus of investors throughout the week.
Following the inflation data that came in above expectations in the USA last week, the statements of bank officials are also being followed for more clues about the future of the US Federal Reserve’s (Fed) monetary policy, Boston Fed President Susan Collins reiterated that she sees no immediate need to cut interest rates in the near term, given high inflation and the resilience of the labor market.
Kansas Fed President Jeff Schmid also stated that the Fed should not focus on interest rate cuts at this time because inflation is above the 2% target and the employment market is strong.
While it is certain in the money markets that the Fed will leave the policy rate constant in May, the possibility of the bank starting to reduce interest rates is priced at 22% in June and 51% in July.
Analysts stated that today, domestic budget balance, industrial production in the Euro Zone, retail sales in the USA and New York Fed manufacturing industry index data will be followed abroad, and noted that technically, 106 and 107 levels in the dollar index stand out as resistance, while 105 and 104 stand out as support.
Source: NTV / Prepared by Irem Yildiz