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Investor Relations
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FinancialNews
09-08-20
Turkish lira strikes record short
(MENAFN) On Thursday August 6 Turkey's lira place a new evidence low in opposition to the United States dollar as savers worried regarding the government's economic policies and dollar preserves emerged to be administration low.
The lira was trading at 7.28 in opposition to the greenback around 10:30 GMT, suffering a loss of over 3 percent as the establish of the day the lowly as May when it accomplished a then-record short of 7.24.
The currency too recorded its lowly level in opposition to the Euro, trading close to 8.60 in opposition to the European money at 10:30 GMT.
The novel drop comes as markets concern regarding reduce in the foreign currency reserves at Turkey's central bank, which appears to have exhausted plentifully in current months to support the nationwide money.
MENAFN0908202000450000ID1100606335
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