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Turkish Lira at Its Highest against the Dollar in 3 months!

: 2018-11-03

Turkish Lira at Its Highest against the Dollar in 3 months!
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The Turkish Lira is recovering

Turkish lira jumped 1.6 percent to 5.4,200 against the US dollar on Friday, 02.11.2018, compared to 5.51 at Thursday's close continuing to recover from the low records that were hit in August 2018.
The Turkish lira rose to a three-month high against the dollar on Friday, supported by investor optimism that Turkey would be exempted from US sanctions targeting Iranian oil and Washington's decision to lift sanctions on top Turkish officials according to "Reuters" agency.

Lifting sanctions between America and Turkey

The Turkish Anadolu news agency reported that Turkey and the United States of America lifted reciprocal sanctions on Friday, which were imposed in August.
The spokesman for the Turkish Foreign Minister Aksoi announced that Ankara has lifted sanctions on two US ministers; in the framework of reciprocity.
Aksoi said that Ankara had imposed sanctions on two US ministers, in response to a similar US move, on last August 1.

Turkey controls the volatility of exchange markets

Last month, Turkish President Recep Tayyip Erdogan announced that his country had managed to control the price fluctuations of the Lira at a time when the Turkish currency rose on signs of improved relations with the United States.

Edited by: Imtilak Real Estate ©
Source: Turk Press
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