The price of the dollar in Turkey rose today, with the Turkish lira heading to its lowest level since the beginning of this year, despite the dollar index declining today by 0.47%, recording 107.403 points.
The price of the dollar in Turkey today against the lira
The price of the dollar against the Turkish lira in the currency market today recorded a new rise, heading sharply to levels close to its highest value in mid-December 2021, according to the latest update of the investing website, so that the dollar in Turkey is now trading at 17.5032 Turkish lira for purchase, against 17.5098 Turkish liras selling price, an increase of 0.2128 points, and a 1.23% change rate in the positive direction, compared to the opening price of 17.2944 Turkish liras, and the Turkish dollar pair is expected to record its highest value today at 17.5082, while reaching its lowest level at 17.2627 Turkish lire.
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The fall of the lira after the issuance of the general budget data today
After the Turkish lira made remarkable progress at the end of last week’s session in the currency market, this week’s session began with a noticeable decline of the Turkish currency, coinciding with the release of negative data on the widening of the Turkish government’s general budget deficit in June, where the deficit came in the range of 31 billion liras. Turkey, in contrast to a surplus of about 144 billion Turkish liras during last May, and revenues for the month of June amounted to 181.019 billion liras, while expenditures rose to 212.078 billion liras.
The lira fell today to the level of 17.50 against the dollar, while it recorded 17.26 at the end of the previous session. The survey of the Turkish Statistical Organization predicted a decline in the exchange rate of the Turkish lira against the dollar at 17.57 lira by the end of 2022, while they expected the lira to decline against the dollar to 18.47 pound in 2023.