On 29 August, the Turkish lira (TRY) traded at 1.75 per USD, which represented a 4.3% depreciation over the 1.68 TRY per USD tallied on the last day of July. On a year-on-year basis, the lira depreciated a strong 13.3% versus the U.S. dollar. The depreciation in part reflects the widening current account deficit. In addition, tensions stemming from the Eurozone debt crisis are contributing to the depreciation, as investors are gradually switching to safer assets. Despite the continued depreciation, on 8 September, Deputy Prime Minister Ali Babacan said the central bank is not ?strictly committed? to ensuring a particular level for the currency.
Turkey Exchange Rate
Turkish lira continues to weaken
September 1, 2011
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Turkey Economic News
October 21, 2016
The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, decreased slightly from 74.3 in September to 74.0 in October.
October 20, 2016
At its 20 October monetary policy meeting, the Central Bank of the Republic of Turkey (CBRT) decided to keep the marginal funding rate unchanged at 8.25%.
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.