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FinancialNews


  • 19-04-20

    Turkish leaders reject any foreign financial assistance

    (MENAFN) Any foreign financial assistance have been rejected by Turkish leaders as Turkey is struggling to cushion the economic effect of COVID-19.

    Turkey's lira weakened to 6.91 for each USD on Thursday, the lowest point in 18 months.

    Turkey restricted foreign investors' ability to trade the lira in the offshore swaps markets, sending its national currency to the low level saw during the 2018 crisis, with a further decrease expected by the analysts.

    The lira has dropped by over 15 percent in worth against the greenback despite Turkish President Recep Tayyip Erdogan's economic incentives implemented to protect the economy since before the pandemic.

    MENAFN1904202000450000ID1100047462

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