For a long time, the gap between the dollar rate that has been actually traded and the announced and apparent dollar rate is gradually narrowing. Dollar-TL rate, which has been under 20 TL for weeks in the free market, prices approaching 23-24 TL in the Grand Bazaar in the pre-election period, and transactions over 22 TL were taking place in the interbank market.
Yesterday, at midnight, the dollar exceeded 20 TL in the free market.
In particular, the demand of institutions in need of operational foreign exchange brought the exchange rate closer to 23 TL in the Grand Bazaar, and there was also talk of a shortage of foreign currency in the market. However, it was mentioned that the demand for cash foreign currency increased and the demanded dollars were not reflected in their foreign currency deposit accounts, but rather went under the pillow. However, due to the fact that the current economic policies were based on suppressing the exchange rate, neither the Central Bank nor the dollar rate, which was seen as a free market, did not reach a level that indicated this demand. It was also frequently stated by the exporter representatives that the exporters were uncomfortable with the dollar exchange rate they faced for exports due to increased labor, domestic raw materials, rent and credit costs due to inflation. Exporters, who stated that they were forced into export pricing, were also faced with more than one exchange rate during the domestic sale of the foreign currency obtained after the foreign sales, and the difference between the buying-selling rates was also causing serious damage.
Yesterday at exactly 00:50, it was seen that the dollar rate exceeded the 20 TL limit in the free market.
As of 06:57, the dollar is traded at 20.23 TL in the free market.
This situation enabled the closing of the buying-selling scissors in the Grand Bazaar. While the dollar rate in the Grand Bazaar is around 21.40 TL on average, there is a trend of 21-21.25 TL in buying. This points to a contraction in the buy-sell dry shears, which rises to 10-15 percent from time to time.
In the interbank market, the dollar is still in the range of 21.70-21.90 TL and the purchase level is 19.80-19.90 TL. In other words, the scissors in banks still seem seriously open.
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.