Turkish lira on the slide again

Author: Mike Paterson | Category: News

New record lows for the Turkish lira 11 Jan

  • USDTRY has now broken up through 3.8600 triggering a rapid spike to 3.8951
  • currently lower again at  3.8574
  • TRY hits record lows vs EUR of 4.1108
  • currently 4.0450

Lira under intense pressure again as concerns grow about the country's economic and political outlook.

Yesterday the CBRT stepped in to intervene as I reported here but it gave only temporary respite. Given the sharp pullback don't rule out similar today.