Erdogan Turkish Lira. The lira fell as much as 86 to the greenback which was boosted after hawkish comments from the US Federal Reserve underscoring the risks for Turkeys economy and for Erdogans own political. The Turkish lira slid to a new record low on Tuesday after fresh statements from Turkish President Recep Tayyip Erdogan opposing any interest rate increases.
The lira weakened as much as 26 percent to 138070 against the dollar before Erdogan spoke. The currency hit a low of 1346 to the. The liras rally came after President Recep Tayyip Erdogan announced new measures to bolster the currency.
Erdogan also said the Turkish government will introduce a measure to help exporters while also increasing the governments contribution for private retirement plans.
ISTANBUL Nov 29 Reuters - The Turkish lira slid more than 4 against the dollar in thin and volatile trading on Monday nearing the record lows touched last week when President Tayyip Erdogan. A man changes Turkish lira for USD and Euro at a currency exchange shop in Ankara Turkey Tuesday Nov. The Turkish lira slid to a new record low on Tuesday after fresh statements from Turkish President Recep Tayyip Erdogan opposing any interest rate increases. Erdogan proclaims sound money is a foreign conspiracy.
