Dollar-Euro fell hard, TL stepped on gas! Here is the last case The dollar rate, which broke the record last Friday at 8.58, fell below 8 TL in the new trading week.
Messages from Central Bank Governor Ağbal pressed the TL gas with the swap move of the BRSA and then President Erdoğan's statements saying that a new era in the economy has entered and giving clear messages to the markets. On the morning of November 12, the exchange rate moved downward to 7.83.
Dollar: 7.83 TL - Euro: 9.23 TL - Gram Gold: 471 TL
Borsa İstanbul broke the all-time record by closing with 1.243 the previous evening. Immediately after this, the lie that Borsa Istanbul General Manager Hakan Atilla resigned was tried to spread through social media. Despite the perception operation, Borsa Istanbul's BIST 1oo index continued to rise and finished yesterday with a record-breaking 1.280 points, an increase of 3 percent. In the statement made by Borsa İstanbul Corporate Communications Directorate, "Borsa İstanbul A.Ş. "The allegations about his resignation on Twitter about our General Manager Hakan Atilla do not reflect the truth."
CLIMB OF TURKISH LIRA WILL CONTINUE
On the other hand, experts who made statements to Yeni Şafak on the subject said that the new economic management created an atmosphere of confidence in the market, and eyes turned to the Monetary Policy Committee to meet on November 19. Istanbul University Faculty Member Prof. Dr. Dündar Murat Demiröz said, “It was speculative that the stock market went down so far. The fact that it goes up from the middle shows that the speculative foam is decreasing. ”He made the following evaluations:“ It was speculative movements that dropped the prices in stocks and increased the exchange rate. They take positions based on perception that have nothing to do with reality. When the policy to be implemented with the decision of the Monetary Policy Committee becomes clear, everyone will take a position accordingly. General estimates in the market are that Central Bank Governor Naci Ağbal will take measures to stop the rise in exchange rates.
EYES AT THE CENTRAL BANK
Demiröz said that the Central Bank Governor's impression that "We will use and control all the tools" creates an atmosphere of trust. Saying that there are speculative movements, Demiröz said, “The normal value of the dollar exchange rate is not 8.50. It can be expected to descend to the level of 7.40-7.45. While stocks and bond prices are rising, the currency is falling. Because he cashes his foreign currency accounts and returns to TL accounts. But this can lead to a return to the dollar if the expected policies are not implemented. For this reason, the decision to be taken next week is very important ”.
THE MARKET IS WAITING FOR EFFECTIVE STEPS
Tera Investment Economist Enver Erkan pointed out that the Central Bank will pass a serious test and emphasized that the decision to be taken will be decisive. Erkan said, “Economic decision makers should continue the normalization steps. The current situation is a little more promising. The market liked them within the framework of the first messages given by newcomers. It is important to continue this process in terms of testing trust. Market effective name% C