Turkish currency weakens further against US dollar

USD/TL parity tested 2.00 on Friday

Turkish currency weakens further against US dollar

World Bulletin/News Desk

Turkish lira fell against US dollar on Friday to a historic low of 1.9992 following dollar's rise against currencies of developing countries as a result of the uncertainty surrounding the direction of US monetary policy.

With continuous weakening against US dollar since August 9, the parity saw to 2.00 in interbank markets, then retreating to 1.9922 after US housing figures for June were below expectations.

Despite a Turkish Central Bank tender to sell $350 million to stabilize Turkish lira's value against the greenback, the rise in market volatility did not cool down.

Güncelleme Tarihi: 23 Ağustos 2013, 21:59
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