8,643.88 TRY BIST 100 BIST 100
4.87 CNY CNY CNY
34.34 USD USD USD
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45.07 TRY Interest Interest
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3,026.19 TRY Gold (gr) Gold (gr)

Moody's decision for Turkiye awaited!

Following the Federal Reserve's actions, the dollar continues to decline against global currencies. The USD/TRY exchange rate started the day at 29 TRY, while the Euro began at 31.93 TRY. Today, attention is focused on Moody's announcement of Turkiye's credit rating after the market closes.

Moody's decision for Turkiye awaited!

Moody's will announce Türkiye's rating after the markets close today. Another international rating agency, S&P, confirmed the rating of the Turkish economy as "B" on November 30 and changed its outlook from "stable" to "positive". The same step is expected from Moody's.

Markets are pricing in the Fed's interest rate cuts. The Fed kept the policy rate constant between 5.25 and 5.50 percent. "Raising interest rates is no longer our final policy," Fed Chairman Jerome Powell said at the press conference after the decision. Fed officials expect the policy rate to be lower than the current level in 2024.

The Fed's turn from hawkish to dovish caused the dollar to lose value against global currencies. The DXY index, which shows the strength of the dollar against other currencies, fell to 101,514, falling to the lowest level since August 2023.

Euro/dollar parity is traded at 1.099. Turkish Lira gained value against the dollar following the increasing risk appetite and the Fed's decision. Before the decision, the exchange rate, which rose to 29.07 TL with an increase of over 29 TL, decreased to 29.00 TL.

TCMB President Hafize Gaye Erkan said, "It is time to switch to the Turkish Lira" at the Turkish Exporters Assembly (TİM) meeting she attended yesterday. Gaye Erkan said, "It is time to switch to the Turkish lira. We see the most direct reflections of this in deposit developments."

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