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#Turkey #Ankara #Lira #ECONOMY #Intrestrates
The subdued economic outlook for the Fed, on the other hand, was less well received by the market. According to the Bloomberg news agency, the Fed fueled the flight to “safe havens”, which hurt one currency in particular -
#Turkey #Ankara #Lira #ECONOMY #Intrestrates
The subdued economic outlook for the Fed, on the other hand, was less well received by the market. According to the Bloomberg news agency, the Fed fueled the flight to “safe havens”, which hurt one currency in particular -
the Turkish lira. The US Federal Reserve made it clear on Wednesday evening that it would not touch interest rates until the end of 2023. The lira recently continued its most recent series of losses against the US dollar.
On Thursday the rate fell to 7.5574 lira per dollar, making the Turkish currency cheaper than ever against the American greenback. The lira had lost against the dollar on 13 of the last 14 trading days. The decline continued on Friday, albeit more slowly.
