BR100 3,737 Increased By ▲ 3 (0.09%)
BR30 19,102 Decreased By ▼ -52 (-0.27%)
KSE100 36,190 Increased By ▲ 48 (0.13%)
KSE30 15,694 Increased By ▲ 18 (0.11%)
COVID-19 TOTAL DAILY
CASES 248,872 2521
DEATHS 5,197 74
Sindh 103,836 Cases
Punjab 86,556 Cases
Balochistan 11,157 Cases
Islamabad 14,023 Cases
KP 30,078 Cases
Markets

Turkey's lira firms on inflation data, Fed and ECB easing expectations

ANKARA: Turkey's lira firmed beyond 5.70 against the U.S. dollar for the first time in two weeks on Wednesday after annu

Sep 04 2019

ANKARA: Turkey's lira firmed beyond 5.70 against the U.S. dollar for the first time in two weeks on Wednesday after annual inflation fell more than expected in August and on expectations of easing from the U.S Federal Reserve and European Central Bank (ECB).

On Tuesday, data showed inflation fell to 15.01% in August, resuming its downward trend, giving the lira another boost after figures on Monday showed the economy shrank less than expected in the last quarter.

On Wednesday, the lira firmed to as far as 5.68 against dollar, marking the first time the currency strengthened beyond 5.70 since August 20.

Copyright Reuters, 2019