Turkish lira is falling in absence of any steps for handling economic turmoil

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Turkish lira is falling in absence of any steps for handling economic turmoil

August 28, 2018 - 14:24
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Turkish lira is falling for second day in absence of any signals that government is going to take steps for handling economic turmoil in the country, Bloomberg reports.

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Turkish lira is falling for second day in absence of any signals that government is going to take steps for handling economic turmoil in the country, Bloomberg reports.

It seems that domestic investors are more negative about the currency than foreign investors, experts note. However, investors point out that concerns about lira, which resulted in decline of currency to record low level, have not disappeared yet. They still worry about two-digit inflation, growing current account deficit and absence of desire to raise interest rates.

Lira fell today by 1,8% to 6,2295 per dollar. It increased losses this week to more than 3%. Short-term volatility of currency this week is 40%, the highest among emerging markets currencies.