© Reuters. The Turkish lira falls to a new all-time low for the third day in a row
Istanbul, Nov 17 (.) .- The Turkish lira on Wednesday accentuated the downward path of the last two weeks and registered a new historical low for the third consecutive day, until the euro was changed by 11.83 units and by 10.46 the dollar .
Early today -08: 00 GMT- the depreciation with respect to the value at Tuesday’s closing was 1.24% against the euro and 1.37% against the dollar, while so far this week accumulated losses are 2.4% and 4.6%, respectively.
The new downward path of the lira started last September, after a year of ups and downs, when the Central Bank reduced interest rates, leaving them in October at 16%, that is, below the year-on-year inflation rate, which stands at around 19%.
Rumors that the central bank will cut interest rates again tomorrow, Thursday, after the central committee meeting of the entity, have added volatility to the Turkish currency, according to several economic newspapers in Turkey.
For its part, the Istanbul Stock Exchange opened today with a slight rise as the BIST 100 index stood at 1,694 points, 0.5% more than the 1,685 at yesterday’s close.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
