Saturday , May 27 2023

Turkish lira against the dollar, relying on a 3-month high rate of amortization from American sanctions Market discussion


The Turkish lira rallied against the dollar for three months, supported by the investor's optimism that Turkey could be released from the US sanctions on Iranian oil and Washington's decision to lift the sanctions against Turkish officials.

The lira jumped to 5.4 million against the US dollar by 1.7%, on Thursday from 5.51, continuing its record of record-breaking record in August.

The lira was still down by 30 percent from the beginning of the year, as it is concerned by President Recep Tayyip Erdogan's influence on monetary policy and diplomacy in Ankara and Washington.

Because of the signs of improved relations, the United States has suspended sanctions for Turkey's justice and home affairs ministers three weeks after the release of the Turkish priest.

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