Turkish lira 'competitive' at current level

• The lira stood at 5.9845 against the US dollar at 08:43 GMT, down 0.4% from the day before.
• The central bank does not have a lira exchange rate target, Uysal said at a press conference in Ankara.

ANKARA: The Turkish lira's real exchange rate is competitive at the moment, Central Bank Governor Murat Uysal said on Thursday, adding that the "dollarization" trend of Turks turning to more stable foreign currencies will continue to fade.

The lira stood at 5.9845 against the US dollar at 08:43 GMT, down 0.4% from the day before.

The central bank does not have a lira exchange rate target, Uysal said at a press conference in Ankara, adding that he expects the relatively stable trend in foreign currency prices to continue.