6 hours agoFree fall, Turkey on alert, investors start leaving
Periskopi(8 years ago)
(8 years ago)Turkey's Central Bank held the first free sale auction, but it continues to slip, until investors have focused on inflation that will hit the Turkish state next week. According to the local 11:09 lira was traded at 4.62 per $1, meaning 2.2% less compared on May 31st. Lyra was [...]
According to the local 11:09 lira was traded at 4.62 per $1, meaning 2.2% less compared on May 31st.
Lira was removed from the central bank's announcement on May 28th that it would return to use the interest rate for a week, thus making Periscope more predictable, reports “Hurriyet”, broadcast.
Although Turkish bank experts have been trying to balance major inflation, it is still below 17.6 per cent against the dollar this year.
Earlier, Turkey's president had announced to his citizens that their savings would convert to the lira, and that this would be a lesson for cases trying to shake Turkey through exchange rate. /Periscopi/
