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

Top Stories
Most Popular

Panorama

Bali flights cancelled due to dangerous volcanic ash

Melania Trump declines to meet with Jill Biden at White House

Dana Reserve: Where Three Ecosystems Meet in Jordan's Wilderness

Japan launches world's first wooden satellite into space

Astronomers observe black hole that may have formed gently

The ten deadliest weather events of the last 20 years and how they were fuelled by climate change

What is the story of the Jordan Staircase in one of the most important palaces in Russia?

Biden and his wife celebrate their last Halloween at the White House

NASA identifies potential landing sites for historic manned mission to the moon

Telescope with world’s largest digital camera will be a ‘game-changer’ for astronomy

Home Business 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. *Reuters

Home Business

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.

*Reuters

no comments

Notice

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 : *
email
	show email
comment : *
Verification code :	Refresh write code :