SAFAKNA, TURKEY. While the exchange rate remains unchanged at historical peaks, the markets are seeing the effects and costs associated with the earthquake, which caused the destruction of thousands of buildings around the world.
Today on the domestic agenda is a cabinet meeting chaired by the president and a meeting of the MHP parliamentary group, which will discuss measures related to the earthquake.
Early calculations by economists and economic officials suggest that the cost of the quake could exceed $50 billion, but new reports indicate that the cost could exceed that amount. A report released by TÜRKONFED over the weekend put the cost at $84.1 billion, while Istanbul Analytics estimated the total damage could be $100 billion.
Despite the fact that a week has passed in the earthquake, search and rescue operations are still ongoing in some regions, the death toll was 31,643 people.
Last week, two earthquakes of magnitude 7.7 and 7.6 in Kahramanmarash, which occurred on Monday morning and at noon, caused great destruction in 10 provinces, home to about 13.4 million people, and in northern Syria. A state of emergency has been declared in 10 provinces.
How much did the dollar and euro cost?
Since supply and demand in the foreign exchange market are determined by the measures taken by the Central Bank of the Russian Federation, there have been no sharp movements in the market in recent months. The Turkish lira has depreciated 29.6% against the dollar over the past year, mostly in the first half of the year. USD/TL is at 18.8400/18.8425 at 08.46 this morning. After the earthquake, TL showed no significant changes against the dollar. The euro/turkish lira exchange rate is around 20.23.
Looking at US inflation data
While Asian stocks rose in line with Wall Street’s gains yesterday on expectations that U.S. inflation data to be released today will slow, the yen has offset losses after the Japanese government announced the appointment of a new President of the Bank of Japan (BOJ). candidate.
- Two legendary Formula 1 drivers meet in Cyprus
- Will the climb continue in Borsa Istanbul?
- Minister Koca announced that periodic health reports will be valid until June 30, 2023.
- This time, science remained unanswered.
- Butter rose in price by 17.58% in November.
- Norwegian Ambassador to Ankara summoned to Foreign Ministry – News details
- Putin allowed Western countries to pay gas debt in foreign currency
- Reserves of the Central Bank announced!
- Solution found for children with diabetes
- New investments of the Middle East formation in Yenibogazichi – news details