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The value of the lira in the week of ‘crucial data releases’

10 5 1
12.06.2018

The United States dollar/Turkish Lira rate has eased to 4.46 after a series of rate hikes, but how long the exchange rate will stay at this level is just a guess. The most curious issue in the short term is the course exchange rates will follow at a time when elections are drawing near. This will be a “heavy week” with some crucial economic data being revealed. Those data releases and decisions to be announced will play a key role in setting the course for exchange rates.

Within the past two weeks, the Central Bank has delivered consecutive rate hikes that could be described as “shocking hikes.” The current level of exchange rates is a subject for debate. The related ministers made statements last week that said the lira was the best performing currency. However, the lira has been the worst performing currency since the beginning of the year.

Moreover, they do not say the lira gained value........

© Hürriyet Daily News