The Turkish lira was a bit soft today even as Moody’s Investor Service increased Turkey’s credit rating, making nation’s assets more appealing to investors.
Turkish Lira TRY
Central Bank: Central Bank of the Republic of Turkey
Interest Rate: 6.50%
Public Debt to GDP Ratio, 2011: 39.9%
Trade Balance, 2011: -$89.4 bln.
Inflation, 2011: 6.5%
High-yielding interest rates
Factors of Weakness
High-risk emerging economy
The Turkish lira is the currency of Turkey and the Turkish Republic of Northern Cyprus (recognized only by Turkey). The new Turkish lira was introduced in 2005, dropping 6 zeros from the old lira. Turkey is one of the major world producers of agricultural commodities and steel.
Turkish Lira News Archive
May 17th, 2013 at 0:12
February 22nd, 2013 at 15:25
The Turkish lira fell today and headed to significant weekly decline as this week’s interest rate cut by the nation’s central bank reduced attractiveness of lira-denominated bonds.
February 19th, 2013 at 20:52
The Turkish lira weakened today after the central bank reduced interest rates, spurring speculation that policy makers will subdue currency’s gains to support the economy.
December 21st, 2012 at 13:21
The Turkish lira fell today amid fear of the fiscal cliff in the United States. Such fears spooked investors away from riskier assets and drove higher yield on Turkish debt.
October 17th, 2012 at 13:40
The Turkish lira strengthened today as Barclays Plc said that demand for the currency used in carry trade will remain despite the interest rate cut earlier this month.
August 23rd, 2012 at 13:00
The Turkish lira fluctuated today as bond yields fell and on speculations that the nation’s central bank would follow other central banks in easing its monetary policy.
August 08th, 2012 at 13:27
The Turkish lira ticked down today as the negative macroeconomic data from Turkey deterred Forex traders from buying the currency. The Turkish economy looks weak and that does not help the lira.
June 25th, 2012 at 12:30
The Turkish lira fell today after Turkey’s warplane was shot down by Syrian forces in international airspace, heightening political tensions between the Middle Eastern countries.
February 21st, 2012 at 18:01
The Turkish lira fell today after Turkey’s central bank unexpectedly decreased its interest rates, following central banks of other nations in monetary policy easing.
February 10th, 2012 at 10:31
The Turkish lira fell today as demand for riskier currencies with higher yield was deterred after the European Union held back the next portion of bailout for Greece.