On 30 June, the Turkish lira (TRY) traded at 1.64 per USD, the weakest level since April 2009 as the headwinds of the debt crisis in the Euro area periphery drives a flight to safe haven currencies, which weighs on the Turkish currency. The reading represents a 2.2% depreciation over the 1.60 TRY per USD tallied on the last day of May. On a year-on-year basis, the lira depreciated by 3.5% nominally versus the U.S. dollar. Economy Minister Zafer Caglayan stated on 12 July that a depreciation of the Turkish lira is ?no concern? for the government, as it should boost the country's exports, adding to government efforts to rebalance the trade accounts and thus helps to narrow the rampant current account deficit.
Turkey Exchange Rate
Turkish lira depreciates in June
July 13, 2011
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Turkey Economic News
October 13, 2016
The current account balance recorded a USD 1.8 billion deficit in August (July: USD 2.7 billion deficit).
October 10, 2016
In August, industrial production expanded a calendar-adjusted 2.2% compared to the same month last year.
October 3, 2016
The Manufacturing Purchasing Managers’ Index (PMI), produced by the Istanbul Chamber of Industry (ICI) and IHS Markit, increased slightly to 48.3 in September from August’s 47.0, which had marked a multi-year low.
October 3, 2016
In September, consumer prices increased 0.18% over the previous month.
September 26, 2016
The Real Sector Confidence Index published by the Central Bank increased from August’s 103.6 to 106.5 in September.