Cbank should be responsible for Turkish lira stability: TIM
The head of Turkish Exporters' Assembly said that Turkey's Central Bank should be responsible for the stability of Turkish lira from now on.
The head of Turkish Exporters' Assembly (TIM) said on Tuesday that Turkey's Central Bank should be responsible for the stability of Turkish lira from now on.
Commenting on Turkish exports in an interview with A.A, TIM's chairperson Mehmet Buyukeksi said that exporters would have difficulties in getting orders for upcoming terms if there was no stability with Turkish lira.
"Up to now, Central Bank has always carried out activities regarding price stability. With its latest initiative on interest rates cut, it has again undertaken a duty aiming to improve economic activities. It was an accurate study," Buyukeksi said.
Buyukeksi said Turkey was still the 10th country that offered the highest interest rates in the world, although it had made the greatest cut in such rates compared to other countries.
"Therefore, we believe real interests should drop more," he said.
Buyukeksi also said that his union expected the U.S. dollar to reach a figure between 1.55-1.6 TL so that exporters would be able to compete.
Pointing to the increase in export figures in May, June and July 2009, Buyukeksi said they expected a remarkable increase in exports in the fourth quarter.
"We carry out some simulations currently and if these turn out to be true, we will be able to reach an export figure of 104 billion USD," he said.
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