Turkish Lira Declines To More Than 4-month Low Against U.S. Dollar
03 Enero 2020 - 1:40AM
RTTF2
The Turkish Lira weakened against the U.S. dollar in the
European session on Friday, as strong domestic inflation data for
December spurred hopes for more monetary easing.
Data from the Turkish Statistical Institute showed that Turkey's
consumer prices rose at the fastest pace in four months in
December.
The consumer price index rose 11.84 percent year-on-year in
December, following a 10.56 percent increase in November.
Separate data from the statistical office showed that the
producer prices increased 7.36 percent year-on-year in December,
following a 4.26 percent rise in November. The increase was also
the highest in four months.
The Lira slipped to 5.98 against the greenback, its weakest
since August 26. At yesterday's close, the pair was worth 5.96. The
next possible support for the currency is seen around the 6.2
level.
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