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FinancialNews


  • 07-08-18

    Turkish currency plunges to record lowv

    (MENAFN) Turkey's currency was unveiled to have hit a record low despite lessening the foreign exchange markets reserve requirement limit.

    The Turkish lira was found to have recorded a decline by 3.8 percent, dropping into a record low of 5.31 against the US dollar.

    The Turkish Central Bank stated "the upper limit for the FX maintenance facility within the reserve options mechanism has been lowered to 40 percent from 45 percent."

    It further added "with this revision, approximately 2.2 billion dollars of liquidity will be provided to banks."

    MENAFN0708201800450000ID1097259981

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