Turkish Lira Drops To 1-1/2-year Low Against U.S. Dollar
March 16 2020 - 4:49AM
RTTF2
The Turkish Lira fell sharply against the U.S. dollar during the
European session on Monday, as investors awaited a rate reduction
by Turkey's central bank on Thursday.
The benchmark lending rate is expected to be reduced by 50 basis
points to 10.25 percent.
Turkish Treasury and Finance Minister Berat Albayrak said that
the government is set to announce financial and economic measures
this week as the number of confirmed cases tripled to 18.
The Turkish Lira fell to a 1-1/2-year low of 6.4072 against the
greenback from Friday's closing value of 6.3306. If the Lira falls
further, it is likely to test downside target around the 6.7
region.
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