US Dollar On The Rise Again Despite Interest Rate Hike by Central Bank

The Central Bank of the Republic of Turkey raised its late liquidity window rate by 300 basis points from 13.5 percent to 16.5 percent on Wednesday (May 23) as a response to the increasing exchange rate of the US Dollar.

Following the Central Bank’s interest rate hike, the exchange rate of the US Dollar to Turkish Lira fell from the level of 4.92 TRY to 4.55 TRY.

But the exchange rate of US Dollar to Turkish Lira has started to rise again. With the opening of the markets, the US Dollar again reached the level of 4.80 TRY.

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CHP EU Representation

About CHP EU Representation

The CHP was founded on 9 September 1923, about one and half month before the proclamation of the Republic of Turkey. The first President of modern Turkey’s oldest party was M. Kemal Atatürk. Today CHP is a social-democratic party, member of the Socialist International and associate member of the Socialist Group at the European Parliament. The scope of the CHP bureau in Brussels is not limited to the bilateral framework of Turkey's EU accession process. Issues such as the information society, energy policies, social development, climate change, international trade and security are among the different focus areas. The EU-Turkey relations are about integration and need multiple, plural and horizontal channels of communication. The CHP supports and promotes Turkey's EU membership process also by being more present and active in Brussels The CHP's Representative to the EU is Ms Kader Sevinç who previously worked as an MEP advisor at the European Parliament and in the private sector.
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