Turkish lira banknotes are seen in this picture illustration in Istanbul, Turkey August 14, 2018. REUTERS/Murad Sezer/Illustration/File Photo
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
The Turkish lira eased on Friday, a day after the central bank raised its benchmark rate by 625 basis points in the biggest such increase in President Recep Tayyip Erdogan's 15-year rule.The lira, which has lost more than 40 percent of its value this year, had firmed to as far as 6.08 against the U.S. dollar following the rate hike on Thursday, but later weakened slightly in early Friday trade.The central bank's hefty rate hike on Thursday meant the bank had now increased interest rates by 11.25 percentage points since late April in an attempt to prop up the ailing lira, possibly easing investor concerns over Erdogan's influence on monetary policy.
FOLLOW THIS ARTICLE