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Turkish lira falling to historic level
1/31/2015
BAGHDAD / Obelisk: continued Turkish lira exchange rate of deterioration, on Friday, and reached a historic level of decline against the dollar, which the central bank was forced to leave his silence to reassure markets about its intentions in reducing interest rates. For the sixth consecutive day, the decline of the Turkish lira exchange rate to touch on Friday afternoon, the threshold of 2.45 to the dollar, a record number of absolute weakness, the Turkish lira was trading at the close of the Turkish market to 2,446 to the dollar. Turkish currency also recorded a significant decline against the euro dropped to 2.76, according to news agency AFP. The Turkish lira weakened basically the US central bank's policy (the Fed), which benefited the dollar, a victim of the markets concerned about a possible new cut interest rates for the Turkish Central Bank as early as next week. The strong development of the institution and was forced to use its reserves, the central bank said in the Turkish declaration that "the recent developments that have been observed in the financial markets is not a coherent view of the smooth cut benefits approved by the Bank." He added that he "will continue to use all available mechanisms to ensure the sustainability has to break the inflation process."Sought Economy Minister Nihat Zepki to reassure, describing the fluctuations of the exchange rate of the lira as a "natural and disturbing", and urged the Turkish Central Bank to continue to cut benefits.
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1/31/2015
BAGHDAD / Obelisk: continued Turkish lira exchange rate of deterioration, on Friday, and reached a historic level of decline against the dollar, which the central bank was forced to leave his silence to reassure markets about its intentions in reducing interest rates. For the sixth consecutive day, the decline of the Turkish lira exchange rate to touch on Friday afternoon, the threshold of 2.45 to the dollar, a record number of absolute weakness, the Turkish lira was trading at the close of the Turkish market to 2,446 to the dollar. Turkish currency also recorded a significant decline against the euro dropped to 2.76, according to news agency AFP. The Turkish lira weakened basically the US central bank's policy (the Fed), which benefited the dollar, a victim of the markets concerned about a possible new cut interest rates for the Turkish Central Bank as early as next week. The strong development of the institution and was forced to use its reserves, the central bank said in the Turkish declaration that "the recent developments that have been observed in the financial markets is not a coherent view of the smooth cut benefits approved by the Bank." He added that he "will continue to use all available mechanisms to ensure the sustainability has to break the inflation process."Sought Economy Minister Nihat Zepki to reassure, describing the fluctuations of the exchange rate of the lira as a "natural and disturbing", and urged the Turkish Central Bank to continue to cut benefits.
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