Arabic | Kurdish



Turkish lira lurches towards record low despite central bank moves

2018/06/14 | 13:00

(Iraq Now News)-

Date: 2018/06/14 - 12:25 PM

WAAR-DUHOK:

The Turkish lira’s valuation against the US dollar today fell behind its value on May 23 when the Turkish Central Bank decided to raise interest rates by 300 basis points.

Deputy Prime Minister Mehmet Şimşek, the economy guru of Turkey, had said on June 3 the lira’s valuation against the dollar was under control.

On Monday the Turkish Statistics Institute (TurkStat) announced the economy had expanded 7.4 percent in the first quarter of the year over the same period last year.

Economists think the lira’s loss in value will continue due to stress stemming from upcoming elections on June 24, apart from foreign factors such as a possible interest rate hike by the US Federal Reserve at a meeting scheduled for today.

The lira was recorded at 4.65 to the US dollar on Wednesday.

Note: The post (Turkish lira lurches towards record low despite central bank moves) appeared first on (Waar Media) and do not necessarily reflect the position of IraqNow.news.
You can read the original text from the source (Waar Media).










Trending Now


⋙ Powerful photographs show moment people cross from Isis-controlled Mosul to...  

⋙ The New End of Life Doula Profession Merges with Health Care in Historic NYC Event

⋙ Paraguay‘s New President Mario Abdo Benítez Sworn in Office

⋙ US plans more sanctions against Turkey if pastor not released

⋙ Erdogan, Macron vow to foster trade ties amid US dispute

Videos - Photos

⋙ Large Syrian Army convoy heads to northwest Syria for Idlib offensive (video)

⋙ ISIS asks for ceasefire in east Sweida as Syrian troops advance (video)

⋙ Powerful photographs show moment people cross from Isis-controlled Mosul to...  


ISIS News

⋙ Large Syrian Army convoy heads to northwest Syria for Idlib offensive (video)

⋙ ISIS asks for ceasefire in east Sweida as Syrian troops advance (video)

⋙ Powerful photographs show moment people cross from Isis-controlled Mosul to...  

⋙ Iraqi forces launch major operation inside Syria to eliminate ISIS

⋙ Refugee accused of killing cop in Iraq was part of ISIS: US officials

⋙ Iraq bombs ISIS 'operations room' in Syria

⋙ ISIS senior terrorist detained in Diyala