Turkish economy unaffected by coup bid

Turkish Lira rises 2.49 percent against US dollar following statements from Central Bank and Deputy PM Mehmet Şimşek.

ANKARA (AA) – The Turkish lira soared nearly 2.50 percent against the U.S. dollar in the early hours of Monday morning following a statement made by Deputy Prime Minister Mehmet Şimşek after Friday's unsuccessful military coup attempt.

The USD/TRY rate had broken the psychological barrier of 3 Turkish liras to reach 3.05 late Friday following the airing of the statement from the coup plotters on state broadcaster Turkish Radio and TV Corporation (TRT).

In the first hours of Monday morning, however, the USD/TRY rate dipped to 2.9385 from 3.05 liras, down 2.49 percent.

Speaking to a private TV channel, Şimşek said in the early hours Monday that he did not expect the coup would have a permanent effect in neither growth nor foreign trade balance.

“Our country, our democracy, our political stability have been strengthened. The road in front of Turkey is clear. We will return to our structural reform agenda very quickly,” he said.

Turkey’s Central Bank said Sunday that it would cut the commission on daily liquidity options for banks to zero as well as provide them with unlimited liquidity to maintain efficient functioning of the financial markets following Friday’s failed coup. 


Turkiye Merkez Bankasi Turkish Central Bank 2


Tags: euro, turkey economy, Turkey investment, bank, economy foresight, Yannick Demoustier, try, turkish lira, try eur, try usd, usd, central bank rate, central bank turkey, central bank, central bank of turkey, Fatih Erkan Doğan, agency, rating agency, turkey economy stats, gdp, turkey economic assessment, turkey gdp, turkey gdp evolution, turkey gdp growth, turkey economic growth, turkey banking, turkey finance, banking news, finance news, turkey finance news, mehmet simsek, europe economy, merkez bankası, turkey gdp 2016, gdp 2016, gdp growth, turkey finance minister, eur try, usd try, europe finance

Print Email

NOTE! This site uses cookies.

If you not change browser settings, you agree to it. Learn more

I understand

A cookie is a small piece of text sent to your browser by a website you visit. It helps the website to remember information about your visit, like your preferred language and other settings. That can make your next visit easier and the site more useful to you. Cookies play an important role. Without them, using the web would be a much more frustrating experience.

  • [javascript protected email address]