IIF hikes Turkish lira ‘fair value’ view to 9.5 after selloff

[03-05-2021 04:58 AM]

Ammon News -

The Institute of International Finance raised its “fair value” estimate for Turkey’s lira to 9.50 versus the dollar from 7.50 due to “a sharp deterioration of sentiment” since March, its chief economist Robin Brooks said on Sunday.

Brooks said on Twitter that the IIF raised the estimate twice last year as the country’s current account deficit widened significantly.

On March 20 Turkish President Tayyip Erdogan made the shock decision to fire a well-respected and hawkish central bank governor, sparking a 13% drop in the lira, which closed on Friday at 8.3 against the US currency.



  • no comments

All comments are reviewed and posted only if approved.
Ammon News reserves the right to delete any comment at any time, and for any reason, and will not publish any comment containing offense or deviating from the subject at hand, or to include the names of any personalities or to stir up sectarian, sectarian or racial strife, hoping to adhere to a high level of the comments as they express The extent of the progress and culture of Ammon News' visitors, noting that the comments are expressed only by the owners.
name : *
show email
comment : *
Verification code : Refresh
write code :