The Turkish lira eases against the US dollar in the recent sessions following its persistent attempt to recovery. The USDTRY exchange rate is currently seen gradually moving up today but it’s widely expected to turn bearish once again in the coming sessions as the buck buckles. It was recently reported that Turkey will now continue to back investments in the country that will reduce the number of imports and increase exports. This was according to Turkish Treasury and Finance Minister Berat Albayrak, citing the latest announcement of the Turkish Central Bank to start reallocating its Turkish lira rediscount credits for local firms. According to Albayrak, around 400 million Turkish liras or 59 million US dollars would be given to businesses with a maximum maturity of about 10 years. Meanwhile, the US dollar’s strength continues to deteriorate as the risk sentiment continues to prosper, raising talks about how long its dominance will last.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.