TODAYSZAMAN.COM – Turkish lira firms after sliding to new record low against dollar

Turkish lira firms after sliding to new record low against dollarThe Turkish lira fell to a fresh record low on Friday despite hopes easing of political tension over the Central Bank of Turkeyand#39s monetary policy.The lira fell to a record low of 26492 against the US dollar, leading emerging market currency declines against the greenback, despite efforts by Turkish officials to quell concerns over government interference in monetary policy.

The currency recovered slightly to 2635 later in the day on Friday.Turkish President Recep Tayyip ErdoIan and frequent attacks on the central bank, including comments that interest rates cause inflation and that those who defend high rates are guilty of treason, helped send the lira currency to a series of record lows this year.

SOURCE: Today’s Zaman