Dollar is flat… CBRT’s interest rate decision is expected


Lerato Khumalo

The dollar exchange rate fell from the levels of 32.99 TL, which it rose yesterday, to 32.83 TL, where it started the day today. The euro started today at 35.11 TL.

Today, markets focused on the CBRT’s policy interest rate decision. The CBRT is expected to keep the policy rate constant at 50 percent. The CBRT is expected to see inflation in June to decide on the direction of the policy rate.

On the other hand, the total reserves of the Central Bank increased by 149 million dollars in the week of June 14 compared to the previous week, reaching an all-time high of 146 billion 301 million dollars.

While the Central Bank’s reserves have increased, individuals and companies have continued to reduce their foreign currency deposits since April 19.

Foreign exchange deposits of citizens and companies decreased by 2 billion 701.4 million dollars in the week ending June 14. Total foreign exchange deposits came to 162 billion 839.3 million dollars.

Deposits, which were 181 billion dollars on April 19, when the exchange rate started to decline, decreased to 162 billion dollars on June 14.

Tomorrow, the gray list decision of the FATF meeting will be announced. Turkey is expected to be removed from the list it entered in 2021 at tomorrow’s meeting. Türkiye has become compliant with 39 of FATF’s 40 standards.

In global markets, risk appetite is low due to tightening statements from Fed officials. The DXY index, which measures the dollar’s strength against other currencies, rose from 104.9 to 105.62.