Turkish Lira Sees Rise Against Dollar and Euro, Latest Forex Rates and Economic Indicators
The dollar to lira exchange rate has risen by 0.57% to reach ₺33, while the euro trades at ₺35.87 with a 0.16% increase. The interbank market shows current forex rates as the week’s final trading day begins.
At 10:00 AM today, the balance of payments data will be released, with expectations of a $1.5 billion deficit in the current account balance for May and a projected $26.5 billion deficit for 2024.
Overnight interest rates have fallen below the policy rate once more, with the TLREF rate dropping to the 48.88% range as of yesterday.
The expectation that overnight rates will remain below the policy rate of over 50% for more than one or two days creates anticipation for new liquidity measures from the Central Bank.
Internationally, lower-than-expected inflation figures in the U.S. have strengthened expectations that the Fed may cut interest rates in September.
In the U.S., annual inflation was reported at 3%, below expectations, marking the first monthly decline in consumer prices since May 2020.
Source: NTV / Prepared by Irem Yildiz