Economy

US dollar at five-month record against Turkish lira

The expectation of imminent interest rate rises in the U.S. has seen the dollar rise against the lira.

21.08.2014 - Update : 21.08.2014
US dollar at five-month record against Turkish lira

ISTANBUL 

The U.S. dollar has hit a five-month high against the Turkish lira following indications of an early interest rate rise in America.

The dollar jumped from 2.165 lira on Wednesday to 2.189 lira on Thursday at 9.00 a.m. Turkish time (07.00 GMT), the highest since late March.

The U.S. currency is expected to get stronger in the coming weeks.

Published minutes of the Federal Reserve’s monetary policy committee indicated an interest rise in the U.S. could be introduced earlier than expected.

Analysts also predict that positive macroeconomic figures for the U.S. economy would see the dollar rate head towards 2.25 lira.

The price of gold was affected by the change in interest rate expectations, sinking to $1,276.55 per ounce, the lowest level for two months.

www.aa.com.tr/en/economy

Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
Related topics
Bu haberi paylaşın