Home
Loading...
You are here:  Home  >  Business  >  Current Article

Turkish lira firms on hopes US tapering continues only steadily

  /   2 Comments   /   390 Views

The Istanbul share index rose 1.25% to 62,553.32 points, outperforming the wider emerging markets index, which was up 0.39%.

A man counts Turkish liras at a stock-exchange office  (AFP/File, Mustafa Ozer)

A man counts Turkish liras at a stock-exchange office
(AFP/File, Mustafa Ozer)

Reuters – The Turkish lira firmed on Friday, ending a downward week higher on expectations that the United States would continue to unwind its stimulus programme at only a steady pace and not accelerate it.

The lira firmed to 2.2065 against the dollar by 1550 GMT from 2.2215 late on Thursday.

The Istanbul share index rose 1.25% to 62,553.32 points, outperforming the wider emerging markets index, which was up 0.39%.

The 10-year benchmark bond yield fell to 10.51% from 10.59% on Thursday.

The Federal Reserve’s tapering – or cutting back on stimulus – has hit emerging markets such as Turkey because of its impact on global money flows.


You might also like...

Establishment of higher council for building materials sought and introduction of new licence to control irregularly priced items

(AFP File Photo)

Cement companies look to control market prices in face of production decline: Sector Source

Read More →