How many Turkish Lira is the Dollar – Euro? What is the latest Dollar exchange rate? The latest status of exchange rates in the interbank market… Exchange rates traded sideways on the first trading day of October. The Dollar/TL started the day around 34.18. Euro/TL, on the other hand, changed hands at 38.10 levels. Overnight interest rates, indicating whether or not the impact of the Central Bank’s tightening on the market is fully reflected, increased again above the policy rate yesterday. Today’s agenda includes the beginning of the Grand National Assembly of Turkey (TBMM), the Manufacturing Purchasing Managers’ Index (PMI) for September, and preliminary inflation data from Istanbul Chamber of Industry (ITO). Overnight interest rates rose to around 50.6% yesterday. The excess liquidity in the market dropped below 200 billion TL. RECORD RESERVES ARE EXPECTED Bankers estimate an increase of approximately 2.5 billion dollars in the net reserves of the Central Bank. Total reserves are expected to reach a new record of 157.5 billion dollars with a total increase of 1 billion dollars, according to calculations. GLOBAL MARKETS The ongoing tension in the Middle East put pressure on risk appetite. The Israeli army announced the start of “limited” attacks against Hezbollah targets in the border area, while an expected ground operation against Lebanon was seen to start today. Fed Chair Jerome Powell said the Fed is not in a hurry to quickly cut interest rates. After Powell’s statements, markets priced in a 38% chance of a 50 basis point rate cut next month.