The Turkish lira exchange rate has mildly depreciated against the US dollar in recent days, but not noticeably so.
This is all the more impressive because the dollar itself has been rallying, which has put most emerging market currencies in the region – eastern European currencies in particular – on the backfoot. The steadiness of the lira is pertinent because policymakers have taken pains to highlight Turkey ’s improving current-account fundamentals in recent months, and there is an implication that this must help the exchange rate, Commerzbank’s FX analyst Tatha Ghose notes.
” “But it is worth remembering that the current-account balance also recorded surpluses historically when the economy had to slow down. At present, presumably it is higher interest rates which are beginning to have their desired contractionary effect. The ongoing improvement is encouraging alright, but not yet massive by comparison.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Turkish-American Acemoglu among three economists awarded Nobel PrizeThe 2024 Nobel Prize in economics is awarded to Daron Acemoglu, Simon Johnson and James A. Robinson 'for studies of how institutions are formed and affect prosperity'.
Read more »
What’s behind the incredible rise of the Turkish defence industry?Türkiye has transformed into a key player in global defence production, breaking free from its historical dependence on foreign suppliers.
Read more »
UN is unable protect its personnel from Israel’s attacks: Turkish president'We wonder what the UN Security Council is waiting for to stop Israel,' Erdogan says.
Read more »
UN unable to protect its personnel from Israeli attacks: Turkish president'We wonder what the UN Security Council is waiting for to stop Israel,' Erdogan says.
Read more »
International system has failed Gaza, says top Turkish diplomatThe foreign ministers of Türkiye and Jordan met in Ankara to discuss recent developments in the Middle East, as Israel's intensified attacks on Lebanon raise concerns about the potential spread of conflict in the region.
Read more »
Turkish minister says an attack on aerospace company left a number of people deadTurkey’s interior minister says an attack on the premises of the Turkish aerospace and defense company TUSAS has left a number of people dead or injured. Ali Yerlikaya did not provide further details on the attack Wednesday on Turkish Aerospace Industries Inc.. The company is located in the outskirts of the capital, Ankara.
Read more »