Turkish FinMin Albayrak: Lira “looks competitive” at 5.7-5.9 against US dollar – Nikkei
|In an interview with the Nikkei Asian Review on Friday, the Turkish Finance Minister Berat Albayrak made some comments on the exchange rate value.
Albayrak said: “Lira "looks competitive" at 5.7-5.9 against the US dollar.”
Further Comments:
Financial stability was a matter of "national security."
"When we look at the developments in imports and exports as well as balancing in the current-account deficit, the foreign exchange rate looks competitive."
FX Implications:
The Turkish Lira was unfazed by Albayrak’s comments, with USD/TRY keeping its range around 5.9350 over the last hour. The cross bounced-off daily lows of 5.9260 reached in early Asia.
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