The lira is at the weakest level against the dollar..a new negative record at 18.5 to the dollar

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Tuesday, September 27, 2022 - 16:23
Point Trader Group

The lira is at the weakest level against the dollar..a new negative record at 18.5 to the dollar

The USD/TRY saw a new high and reached 18.53.

The price of the dollar, which beat the record on December 20 as the central bank continued to cut interest rates last week, reached its peak this week, influenced by the rise in the dollar index.

After the dollar index rose to 114.52 yesterday, recording its highest level in 20 years, the index fell today towards the level of 113. The high volatility in the currencies of developed countries, especially the euro, the pound sterling and the yen, has reduced risk appetite.

Emerging market currencies fell by less than the majors in the past week. The rate of decline in the Turkish lira has not been significant, but the fact that the dollar is trading at levels very close to long-time records made the lows mark a new high.

The price, which rose to 18.48 yesterday, reached a new high at 18.5352 in the Asian session today. While the rate of increase in the exchange rate this month was 1.5%, and the rate of increase at the beginning of the year approached 38%.

Later in the day, comments from central bank officials around the world will be followed. On the US side, home and durable goods orders will be released. False statements from central banks may increase volatility in the foreign exchange market.


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