Turkish Lira Trades At Weekly High Against U.S. Dollar
01:58, 7th December 2016
(RTTNews) - The Turkish Lira firmed against the U.S. dollar in European deals on Wednesday, after the government authorities stepped in to stem a rapid fall of the currency.
In a statement, Turkish defence ministry said it has converted almost $300 million in hard currency into lira in the wake of call from President Tayyip Erdogan to support the domestic currency.
The Lira advanced to a weekly high of 3.4154 against the greenback, compared to Tuesday's closing value of 3.4404. The next possible resistance for the Lira is seen around the 3.0 mark.
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