The Turkish lira is a losing game.. the level of 19.65 is inevitably coming and important stations on the road

The Turkish lira is a losing game.. the level of 19.65 is inevitably coming and important stations on the road

The Turkish lira is moving sideways around 17.96. The Turkish currency is experiencing the largest decline this month.

Volatility is down, but the exchange rate is high

The exchange rate started declining after hitting a record low in December. The exchange rate fell to 13.17 Turkish liras to the dollar, and then the lira began to decline again. The Turkish lira experienced its highest volatility since May. The gradual increase in domestic inflation and the Fed's increase in interest rates caused the lira to fall.

Turkish Central Bank Decision

While the Federal Reserve is implementing very violent monetary policies, it raised interest rates last month by 75 basis points, and raised interest rates by 225 basis points since the beginning of the year. The dollar index continued to strengthen. On the other hand, the Turkish Central Bank continues not to raise the interest rate, and the Turkish lira's decision to continue the policies of adopting the Turkish lira, and their impact on controlling inflation. With the higher risk premium, the Turkish lira tested the level of 18 Turkish liras to the dollar.

What is the end of the year forecast for the Turkish lira?

Inflation is expected to reach 70.6% by the end of the year. The Turkish Central Bank expects inflation to reach 60.4%. According to the survey conducted on financial and monetary institutions, the Turkish lira is expected to reach a new record level this year. To record 19.65 pounds to the dollar. The interest rate is not expected to change this year.

What are the most important levels to be monitored?

On December 20, the Turkish lira recorded the level of 18.36, while the level of 18 is the most important level for the local market. If the lira exceeds this level, the path will be towards a new record. In recent days, the lira is standing around 17.45, which is the 50-day moving average, which is the first level from which it may start to decline, and the lira is moving in the narrow range around 17.90.