Turkish Lira earned value after the announcement of Central Bank of Turkish Republic. The announcement made in Friday and declared that : "The repayment of export and foreign exchange earning services which were used before January 1st 2017 and which will come to maturity at the end of May 2017 can be paid as Turkish Lira." What is important at this point is that the loan is paid at the time of the loan. The foreign exchange buying rate declared by the bank on January 2 will be used during repayment. Having taken a similar step in the past, the Central Bank of Turkish Republic is trying to relieve the exporter who is foreign currency borrowed in this way and aims to reduce the foreign exchange demand.
When we look at the first impressions after this decision, Turkish Lira gained value. But the new policies that global markets are planning to implement in the US and Trump remain on the agenda . Today, there is a holiday in the USA that may lead to a low trading volume. However, with the Purchasing Manager Index (PMI) figures to be announced tomorrow, and the announcement of the FED members, it will be important for the Dollar index. Finally, we can say the positive trend of Turkish Lira may continue during this week. As a resistance level, we will be following 3.6800 and 3.7200 level.
- Date: 20 February 2017 Mon 07:59
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