Surprise move to the dollar! Dollar is cheap! Dollar in 5 days… What will the dollar be in 2024?

There was no surprise decision at the fourth meeting of the Central Bank of the Republic of Turkey this year. He kept the interest rate constant at 50 percent, in line with the market’s expectations. However, in the decision text, it was signaled that if inflation does not decrease, another interest rate increase will be made. After the decision, the dollar was at 32.49 lira and started the new day at 32.56 lira. Euro is traded at 34.97 TL, British Pound is traded at 40.73 TL, and Swiss Franc is traded at 35.66 TL.

DOLLAR HAS BECOME CHEAP IN THE GRAND BAZAAR!

“Interesting things are happening in the market this week. Normally, the dollar would be 1 lira higher in the Grand Bazaar than in the free market. This week, for some reason, it is 10 kuruş lower. The official exchange rate side has become more expensive. The free market side has become cheaper.” Gold and Money Markets Expert İslam Memiş continued his words;

SURPRISE MOVE TO THE DOLLAR

“If there are friends who expect a decrease in exchange rates, I always state that I do not expect a decrease in exchange rates. Foreign investor inflows are rapid, foreign capital is an inflow of money into the Turkish economy. Then we will talk again. From time to time, they meet with foreign investors and the World Bank. They are making violent statements for hot money. If there is such a surprise move, we will re-interpret it. However, there is no such thing at the moment.

The market will move within the narrow band range until May 1. There may be serious changes in the policies of Central Banks. If the FED message that interest rate hikes will start in December, we will evaluate parity transactions with the dollar. Last 5 days left for dollar. “We will make profit from short-term trends,” he said.

The expectation for the dollar to reach 40 TL by the end of the year still continues.