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The agency reported "Reuters" that The US dollar It is now worth 8.19 TL, which is its worst level Turkish lira Since 1999.
And she was Turkish currency Slate, Mon, 8.05 vs. The US dollar, Due to investor concern about a decision central bank The main interest rate was kept unchanged last week and geopolitical concerns.
Tensions resulted in relationships with United State And the dispute with France and the dispute with Greece over maritime rights and battles in Nagorny Karabakh This caused investor concern, which negatively affected the currency’s performance.
A dealer in the exchange market at a local bank said: "Mounting Geopolitical tensions With the United States andEuropean Union It is a new source of pressure to weaken the lira. Other factors are doubts about the reliability of monetary policy and the appropriateness of the lira yield".
The Turkish lira has lost 26 percent this year and more than half of its value since the end of 2017, making it the worst-performing currency in emerging markets.
Foreign investors sold $ 13.3 billion of Turkish shares and bonds during the current year, and this level is the highest since 2005.
Experts point out that Turkey has spent its cash reserves faster than any other economy in the process of developing, in its efforts to support the country’s currency, which raises concerns about Turkey’s financial situation during the coming period, especially in the risks of Washington imposing sanctions on Ankara.
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“Reuters” agency reported that The US dollar It is now worth 8.19 TL, which is its worst level Turkish lira Since 1999.
And she was Turkish currency Slate, Mon, 8.05 vs. The US dollar, Due to investor concern about a decision central bank The main interest rate was kept unchanged last week and geopolitical concerns.
Tensions resulted in relationships with United State And the dispute with France and the dispute with Greece over maritime rights and battles in Nagorny Karabakh This caused investor concern, which negatively affected the currency’s performance.
A trader in the exchange market at a local bank said: “It is escalating Geopolitical tensions With the United States andEuropean Union It is a new source of pressure to weaken the lira. Other factors are doubts about the reliability of monetary policy and the appropriateness of the return on the lira.
The Turkish lira has lost 26 percent this year and more than half of its value since the end of 2017, making it the worst-performing currency in emerging markets.
Foreign investors sold $ 13.3 billion of Turkish shares and bonds during the current year, and this level is the highest since 2005.
Experts point out that Turkey has spent its cash reserves faster than any other economy in the process of developing, in its efforts to support the country’s currency, which raises concerns about Turkey’s financial situation during the coming period, especially in the risks of Washington imposing sanctions on Ankara.
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