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Turkish Lira Reverses Rally, Falling vs. US Dollar

January 13, 2017 at 13:55 by Vladimir Vyun

Turkish 200-lira billsThe Turkish lira fell against the US dollar today, prompting the government to threaten actions against speculators that drive the currency down.

The Turkish lira reversed yesterday’s rally against the US dollar today even though the greenback remained rather soft. It proved that analysts were right to be bearish on the Turkish currency due to concerns about political reforms, economic troubles, and militant attacks. Yet the government argued that there were no fundamental reasons for the lira to be so weak and pledged to take actions to support the currency.

USD/TRY rose 0.7% to 3.7862 as of 13:44 GMT today.

If you have any questions, comments, or opinions regarding the Turkish Lira, feel free to post them using the commentary form below.

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