The Turkish lira fell against the US dollar today as complicated environment makes it hard for the central bank to support the currency.
Turkish Lira TRY
Central Bank: Central Bank of the Republic of Turkey
Public Debt to GDP Ratio, 2015: 33.1%
Trade Balance, 2015: -$50.7 bln.
Inflation, 2015: 7.5%
High-yielding interest rates
Factors of Weakness
High-risk emerging economy
The Turkish lira is the currency of Turkey and the Turkish Republic of Northern Cyprus (recognized only by Turkey). The new Turkish lira was introduced in 2005, dropping 6 zeros from the old lira. Turkey is one of the major world producers of agricultural commodities and steel.
Turkish Lira News Archive
The Turkish lira dropped today ahead of the credit rating decision by Fitch Ratings that may lead to Turkey losing its investment grade.
The Turkish lira slid today even though Turkey’s central bank raised some of its interest rates, including the key Marginal Funding Rate.
The Turkish lira fell against the US dollar today, prompting the government to threaten actions against speculators that drive the currency down.
Currencies of emerging markets were rallying against the US dollar during the Thursday’s trading session, and the Turkish lira joined the parade. Yet analysts remained largely bearish on the Turkish currency.
The Turkish lira fell more than 2%, dropping to the record low against the US dollar today as fundamentals, both domestic and overseas, made the currency largely unappealing to investors and Forex traders.
The Turkish lira climbed against the US dollar today, easing the pressure on the nation’s central bank to act in defense of the currency and its inflation goal.
The Turkish lira fell today, hitting a record low, as the hawkish outlook for Federal Reserve’s monetary policy and the resulting strength of the US dollar led to weakness of emerging markets’ assets.
The Turkish lira sank today after the series of bad news made the currency look very unappealing to investors.
The Turkish lira was little changed today after the nation’s central bank made a surprise decision to keep interest rates unchanged.