New Turkish Lira in International Markets

Since launching a new currency by dropping six zeros from the old one, Turkey has managed to keep inflation reasonably low and secure stability.

New Turkish Lira in International Markets

The New Turkish Lira (YTL) has recently become an investor favorite.

Currency board president Huseyin Kirciltepeli has dreamt of introducing the YTL to international markets.

He says that the most interest toward the new lira is coming from the currency exchange markets and the gold sector.

According to Kirciltepeli, the main factor behind the success of the YTL in spot markets, where billions of dollars in transactions are traded daily, is the successful and steady policy of the economic administration.

"I was in search of something. I wanted to launch an intermediary currency to introduce the New Turkish Lira to the market. Foreign markets were hesitant about YTL transactions because they perceived Turkey's economy to be unstable," Kirciltepeli said.

According to Kirciltepeli, in markets where the Chinese Yuan was also active, online transactions with the YTL often had cheaper quoted values when compared to exchange offices.


Güncelleme Tarihi: 20 Eylül 2018, 18:16