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Turkish lira volatile as central bank comments on inflation

ISTANBUL : Turkey 's lira weakened briefly on Thursday after the Central Bank maintained its inflation forecasts of 6.9
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By Abdul Ahad
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LiraISTANBUL: Turkey's lira weakened briefly on Thursday after the Central Bank maintained its inflation forecasts of 6.9 percent for 2011 and 5.2 percent for 2012 in its quarterly inflation report.

The lira weakened to 1.6950 against the dollar from 1.6878 beforehand after the announcement, but subsequently rebounded to 1.6855 at 0734 GMT as Central Bank Governor Erdem Basci commented on recent lira weakness.

 

Copyright Reuters, 2011

 

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