dollar

Climbing to 5.42 TL, dollar has dropped to 5.20 after the news reports claiming that pre-agreement concerning Pastor Brunson crisis has been agreed.

The exchange rate of US Dollar, which was around the level of 5.07 Turkish Lira when the markets closed on Friday, has become 5.18 Turkish Lira on the first day of the week, hitting another record high.

After the US has announced its decision to impose sanctions on Turkey, the exchange rate of US Dollar has become 5 Turkish Lira.

After the Central Bank has announced that it has kept the political interest rate fixed at 17.75 percent, the Turkish Lira has decreased in value against the US Dollar. The exchange rate of dollar has reached the level of 4.94 TRY.

President Erdoğan explained why he has appointed his son-in-law Berat Albayrak as the Minister of Finance and Treasury by saying, “He worked in private sector and took a course on the subject.” However, the US dollar has continued to increase in value against the Turkish Lira.

While economy was administered by Mehmet Şimsek, Naci Ağbal and Nihat Zeybekçi at the 65th Government, now Berat Albayrak has been named as minister of finance.

Deputy Prime Minister in Charge of Economy Mehmet Şimşek has stated, “We will take a step back from neither the independence of the Central Bank, nor the market economy.”

The exchange rate of US Dollar to Turkish Lira, which fell from the level of 4.80 TRY to 4.50 TRY following the Central Bank’s interest rate hike by 300 basis points, has started to rise again after the markets have opened.

Government Spokesperson Bekir Bozdağ has said, “If there are people who think that they can change the results of this election by playing with the dollar and inflicting damage to the nation and its pocket, they are mistaken.”

Concerning the hike in exchange rate, Deputy PM Akdağ has said, “Some circles are trying to prevent the rise of Erdoğan and Ak Party”.

Borsa İstanbul Chair Karadağ has said that they have converted all of its cash assets into Turkish Lira to give confidence to the markets but he doesn’t know the amount.

After the exchange rate of US Dollar to Turkish Lira has exceeded 4.90 TRY, İstanbul Stock Exchange has announced that except for its short-term needs, it has changed all of its foreign exchange assets into Turkish Lira.

Inflation has increased by 0.73 percent in February while the increase on annual basis has been 10.26 percent. With 55.10 percent, green beans have seen the highest price increase. Upon the announcement of inflation figures, the exchange rate of dollar has exceeded 3.82 Turkish Liras.

Cost of a 50-liter tankage has shown an increase of 15.5 liras in gasoline-powered vehicles and 13.5 liras in diesel-powered vehicle, which has made Turkey Europe’s 12th most expensive country in gasoline.