The market has been holding its breath for days, waiting for the interest rate decision of the Central Bank of the Republic of Turkey. While the decision that will change the course of the dollar is eagerly awaited, the dollar exchange rate is moving around 32.52 lira. The reason for this horizontal course in the dollar is stated to be that citizens are convinced that the dollar will not rise and switch to Turkish Lira due to the increase in deposit interest rates. Euro started the day at 35.00 TL, British Pound at 40.68 TL and Swiss Franc at 35.67 TL.
After the Central Bank, which made a surprise interest rate increase last month, increased the interest rate to 50 percent, it is eagerly awaited to see if it will make a new surprise for April. Reporting that the Central Bank of the Republic of Turkey will continue its high interest rate policy until the fourth quarter of the year, US investment bank Morgan Stanley announced that it does not expect an interest rate increase or decrease for April.
YEAR-END DOLLAR FORECAST HAS DECREASED
While Morgan Stanley predicted that the Central Bank would reduce the policy interest rate in November and December, it predicted that the dollar exchange rate would be 38 lira at the end of the year.
CURRENT EXCHANGE RATES 25 APRIL 2024
AYDINLIK’S NOTE: This is not investment advice…
