With the uncertainties created by the Ukraine War, rising energy prices and the Fed’s interest rate hike expectations, the Dollar Index rose to 97.83 today, peaking after June 2, 2020. With the rise in the index, which was traded at 97.55 in the last hour, the dollar is priced positively in global markets today.
On the euro side, both the impact of the war and the expectation of a war-related economic slowdown weaken the currency. The dollar, which has reached the peak of about 2 years against the euro, has experienced a limited decline against the Australian dollar, which is one of the developed countries’ currencies today.
TL/dollar, on the other hand, has exceeded the famous 14.00 limit today despite the indirect sale of 4 billion dollars by the central bank and is currently traded at 14.13. USD/TRY is up 1.7% today. The fact that the pressures will continue weakens the possibility of the central bank to suppress the TL by continuing its non-transparent sales.
While the Hungarian forint and the Polish zloty are the currencies of the developing countries that fell the most after the ruble due to the strategic situation, geographical location and political outlook, TL is among the currencies that fell due to the tourism barrier and the risk of blockage in exports.