The Turkish lira drops slightly amid expectations of interest rate stabilization

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The Turkish lira is declining slightly amid expectations of fixed interest rates


Thursday – 24 Ramadan 1442 AH – 06 May 2021 AD


200 Turkish lira banknotes (Archive – Reuters)

Ankara: «Middle East Online»

The Turkish lira declined slightly today (Thursday) ahead of the central bank meeting to set the interest rate, as it is expected to keep the main interest rate unchanged in the face of rising inflation.
The lira was at 8.3350 against the dollar by 06:20 GMT, down slightly from the settlement rate of 8.3150 yesterday (Wednesday), according to Reuters news agency.
The currency has lost more than ten percent of its value since the beginning of the year, which included a sharp downturn that followed the ouster of the central bank governor in March.
Estimates of all 18 respondents in a Reuters poll indicated that the central bank would keep interest rates unchanged.


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