Turkish lira hits 4-week high against US dollar

By Bahattin Gonultas

ANKARA

The Turkish lira advanced to a four-week high against the U.S. dollar on Monday.

The dollar started the day by losing ground against the lira; the exchange rate decreased by 0.67 percent to reach 3.6702.

The exchange rate had hovered between 3.71 and 3.69 over the past two days and started trading at 3.6950 as of 9 a.m. (0600GMT) Monday morning.

Analysts say the decline in the dollar index may continue in the coming days and the exchange rate may fall further down to 3.60 in the week.