Turkish Lira Strengthens as Dollar Nears One-Month Low
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#573d4895 ver:0.15

The Turkish lira strengthens as the dollar nears a one-month low, reaching ₺32.15. Turkey's economy faces challenges due to policy mistakes and a deteriorating outlook. Uncertainties in US monetary policy and high inflation intensify pressure on Turkey. The lira hits a record low against the dollar, falling 37% in the past year. Turkish policymakers implement alternative measures to manage the lira ahead of elections. Inflation in Turkey remains high, reaching 64.77% in December 2023. The focus shifts to the economy following municipal election results. The Central Bank of Turkey responds with rate hikes and liquidity tightening. GDP growth for 2024 could be below 3%. Turkey plans to issue $10 billion worth of financing from international capital markets. The surprise rate hike ahead of local elections boosts investor confidence. #TurkishLira #Economy #Inflation #Dollar...

#newstr #TurkishLira #Dollar #ExchangeRate #Inflows #MonetaryPolicy 

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