Turkish Lira preserves value against foreign currencies in 2010

Turkish Lira preserved its value against foreign currencies throughout the year.

While the Real Currency indices indicate a rising tendency in value of Turkish currency, the TL appreciated 12.8% in CPI and 11.6% in PPI as of November since the beginning of the year.

The Turkish Central Bank stuck to the floating currency regime in 2010, and only intervened when speculative transactions were observed.

According to Central Bank's foreign currency exchange rates, the US Dollar which was sold at 1.4967 TL as of the end of 2009, appreciated 4% and reached 1.556 TL while Euro which stood at 2.1562 TL as of the end of 2009 appreciated 0.5% and reached 2.05 TL.

The US Dollar which was sold at 1.498 TL at the free market as of the end of 2009, is sold at 1.556 TL as of December 21.

The US Dollar which floated around 1.5 TL starting in February hit the highest rate with 1.6 TL in June and saw the lowest value in the beginning of November with 1.39 TL.


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