ISTANBUL: Turkish Economy Minister Nihat Zeybekci said on Sunday he wanted the lira currency to trade in a band of between 2.15 and 2.25 to the U.S. dollar, slightly stronger than current levels.
Speaking to reporters on the sidelines of a World Economic Forum meeting in Istanbul, Zeybekci, who has repeatedly called on the central bank to lower interest rates, said such a level would be ideal for Turkey's foreign trade.
"2.15-2.25 is a reasonable band that will not trigger excessive imports," Zeybekci said.
The lira dropped to its weakest in almost eight months at 2.26 against the dollar on Thursday, as the U.S. currency has continued its rise towards multi-year highs globally.
Tensions on Turkey's southeastern border with Syria, where the U.S. has led air strikes against Islamic State militants, have also put pressure on the currency.
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