Latest Updates on Dollar and Euro Exchange Rates
The dollar to lira and euro to lira exchange rates are under scrutiny today as markets show limited increases in July.
The USD/TRY reached peak levels around 33 today, while EUR/TRY traded around 36.
The International Monetary Fund (IMF) raised its growth forecast for Turkiye from 3.1% to 3.6%.
Details on tax regulations have emerged, including the application of global and domestic minimum corporate taxes. The exit fee for international travel will increase from ₺150 to ₺500.
Finance Minister Mehmet Şimşek clarified that the package does not include provisions specifically targeting low-income citizens.
The minimum retirement pension will rise from ₺10,000 to ₺12,500. This adjustment will ensure that 3,703,180 individuals receive a pension of ₺12,500, with an initial budgetary cost of ₺33.2 billion over the first six months.
In June, the central government budget recorded a deficit of ₺275.3 billion, with a non-interest deficit of ₺176 billion. The budget deficit for the first half of the year amounted to ₺747.2 billion.
On the global stage, market movements are influenced by the attempted assassination of U.S. presidential candidate Donald Trump and statements by Fed Chairman Powell.
Markets are beginning to factor in the possibility of Trump winning the presidential elections scheduled for November. Powell expressed confidence that inflation is sustainably decreasing towards the Fed’s target of 2%.
Source: NTV / Prepared by Irem Yildiz