Turkish FinMin Albayrak: Lira “looks competitive” at 5.7-5.9 against US dollar – Nikkei

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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