How many TL is the dollar – euro? What was the latest dollar exchange rate? The latest status of foreign exchange rates in the interbank market…
Foreign exchange rates started the first trading day of the week with a horizontal trend. The dollar/TL started the day around 34.25. The Euro/TL also traded at 37.20. While asset prices in global markets are influenced by the upcoming presidential elections in the USA, the Turkish Lira maintained its stable course. There is no domestic data agenda today. Global markets started to price in the possibility of Donald Trump winning the presidential elections in the USA. It is predicted that Trump’s tax and trade policies will be inflationary, therefore interest rates in the USA are expected to rise. Experts also foresee that Trump’s trade policies will put pressure on other currencies. WHEN WILL THE FIRST INTEREST RATE CUT HAPPEN? The Central Bank, last week, kept the policy rate at 50% for the seventh time, without giving a message that interest rate cuts might begin. Economists interpreted the text as the door for a rate cut in November not being completely closed, but the possibility of a cut in December and January being higher. The timing of interest rate cuts in domestic markets is closely monitored. Surveys indicate that the Central Bank of Turkey may begin interest rate cuts in the next few months and will reduce rates by at least 20 basis points by the end of 2025.