The value of the Turkish lira fell against the dollar and the rest of the currencies this morning, approaching 14 lira for every one dollar, at a time when it is expected to rise against the rest of the currencies.
However, it returned to rise sequentially with the evening hours of this day.
The lira had previously reached its lowest level in the past weeks, reaching 18.3674 against the dollar.
On the question that is asked on a daily basis:
100 dollars is equal to how many Turkish liras, and 100 dollars is equal to 1353 Turkish liras.
100 euros equals how many Turkish liras / 100 euros equals 1554 Turkish liras
Turkish lira against the dollar.
Sold: 13.5360
Buy: 13.5068
Turkish lira against the euro.
Sold: 15.5431
Buy: 15.5058
The exchange rate of the Turkish lira against the British pound.
Sold: 18.6442
Buy: 18.5943
The exchange rate of the Turkish lira against the Kuwaiti dinar:
Sold: 44.7545
Buy: 44.8151
The exchange rate of the Turkish lira against the Saudi riyal.
Sold: 3.6023
Buy: 3.6030
The exchange rate of the Turkish lira against the Qatari riyal.
Sold: 3.7156
Buy: 3.7114
The exchange rate of the Turkish lira against the UAE dirham.
Sold: 3.6837
Buy: 3.6785
It is worth noting that exchange rates change from time to time.
The Turkish lira is facing a new turn, and the central bank announces a decrease in foreign currency reserves
The total reserves of the Central Bank of the Republic of Turkey decreased to 109 billion and 445 million dollars in the week of January 7th.
The Central Bank of the Republic of Turkey published weekly statistics on money and banks.
Accordingly, the total foreign exchange reserves of the Central Bank decreased on January 7 by one billion and 575 million dollars to reach 70 billion and 989 million dollars.
Total foreign exchange reserves reached the level of 72 billion and 564 million dollars on December 31.
In the mentioned period, gold reserves decreased by 33 million dollars from 38 billion and 489 million dollars to 38 billion and 456 million dollars.
Thus, the total reserves of the Central Bank decreased by one billion and 607 million dollars in the week of January 7 compared to the previous week, from 111 billion and 52 million dollars to 109 billion dollars.
The Turkish lira will fall to 18 lira and inflation will rise .. expectations of a leading European bank
Unicredit, one of the leading banks in Europe, announced its forecasts for 2022 and 2023 for Turkey, in which he talked about the depreciation of the Turkish lira during the current year and the high inflation rate in Turkey.
According to what “Turkey Urgent” translated, while UniCredit expects the Turkish lira to continue depreciating and inflationary to rise in 2022, it has predicted that there may be a drop in the exchange rate and inflation depending on the results of the elections in 2023.
In his forecast, he indicated that Turkey will grow by 4.7 percent in 2022, but this will be reflected in the Turkish lira, as it will decline in 2022 and inflation will reach about 37 percent at the end of the year.
He noted that the Central Bank of the Republic of Turkey will continue to reduce interest rates in 2022 if political pressures persist, and that the rapid decline in the exchange rate may threaten financial stability.
He added that while the dollar / Turkish lira is expected to reach 18 again at the end of 2022, inflation is also expected to remain above 50 percent for most of 2022, and will drop to 37 percent at the end of the year.
He added that he expected the central bank to maintain interest rates at 12 percent in 2022, and that the Turkish central bank’s policy rate would be at 23 percent by the end of 2023.
“We believe that a more conventional monetary policy will be pursued if the opposition wins the elections,” the bank said, adding that it expected this to increase the value of the Turkish lira and capital inflows.
The Bank’s exchange rate and inflation for 2023 have also been drafted in line with these projections in connection with the elections.
The bank expects the dollar rate to fall from 18 to 13.50 at the end of 2023, while it expects inflation to drop from 37 percent to 18.7 percent.
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