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FinancialNews


  • 12-11-20

    Erdogan's remarks cause lira exchange rate to decline

    (MENAFN) As President Recep Tayyip Erdogan promised to set up a new era to enhance the investment environment of the country, the US dollar / Turkish lira exchange rate dropped significantly on Wednesday.

    As of 14.23 local time (1123GMT), the figure decreased to 7.99 and then below the 7.9. level.

    The rate stands now at a level of about 7.91, as opposed to the last week's rate at approximately 8.5.

    Erdogan has previously said that Turkey will hold a series of meetings with international investors to discuss opportunities, potential and support to be extended to them by the country.

    Turkey, he said, is set to undertake systemic measures for improving the investment climate, to maximize the effect of financial markets and the quality of government revenues and expenditures, and to avoid informality.

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