USD TL Parities of the Last 5 years
The exchange rate means the value of the country’s currency against the foreign currency. In particular, the exchange rate is being monitored frequently in developing countries such as Turkey. Among the factors affecting the exchange rate; FED decisions, IMF, European economies, current account deficit, foreign trade, supply-demand to the currency, inflation expectations, economic policies, domestic and international interest rates, the state of the country’s economy, tourism etc. So how have USD TL parities changed in the last 5 years?
One of the main tasks of the Central Bank is that to determine and apply the exchange rate regime in Turkey together with the government. Within the framework of the determined exchange rate regime, the duty and authority to formulate and implement the exchange rate policy belongs to the Central Bank. The Central Bank determines the foreign exchange policy practices in accordance with the monetary policy targets. In case of a change in the monetary policy, it is possible to change the exchange rate policy.
As of 2001, Turkey has started to use floating exchange rate determined according to supply and demand conditions in the market. In the floating exchange rate regime where exchange rate is not used as a policy tool; The Central Bank does not set any nominal or real exchange rate targets. In addition, the Bank; in order to reduce the risks to financial stability, takes measures against excessive appreciation or depreciation of the Turkish lira.
You can view USD TL parities in the last 5 years from the table below.