Turkish Lira continues to decline; Euro Discount
Political tensions continued to push Turkey's Lira down in the sixth day when the Euro was also declining when trade and geopolitics remained uncertainties.
The Lira dropped to the new lowest compared to the dollar following a meeting between Turkish and American officials with no result concerning the detention of an American pastor in Turkey.
USD/TRY rate increased by 7.81% to 5.9783 at 4:35AM ET (0835GMT) not far from the highest history 6.1428 reached earlier.
President Erdogan of Turkey appeased the worries on Thursday when it said it was a campaign against Turkey.
He told supporters in Rize province: "Don't forget, if they have dollars, we have our people, our holy one. We work hard. Look what we had 16 years ago and we now ".
The Turkish Minister of Finance, Berat Albayrak, is said to be making the country's economic plan on Friday, but concerned about Erdogan's dictatorship and the economy of Turkey still haunts investors.
The Russian Ruble also fell at a rate of USD/RUB up 0.29% to 66.8808, the lowest level since Nov. 2016, after the U.S. imposed sanctions on the Kremlin by allegations of Russia poisoned his father's agent.
The Lira and the Ruble are declining also pushing Euro discount at EUR/USD discount of 0.69% to the lowest 2 months 1.1448. The table also dropped with a GBP/USD discount of 0.52% and 1.2760.
Meanwhile, the USD index, which measures the dollar strength against the currency basket, raises 0.51% to 95.95.
The Australian dollar dropped at a rate of $1% and 0.7298 while NZD/USD dropped 0.42% and 0.6585. The Canadian dollar is also reduced with USD/CAD rate increased by 0.57% to 1.3120
The Lira dropped to the new lowest compared to the dollar following a meeting between Turkish and American officials with no result concerning the detention of an American pastor in Turkey.
USD/TRY rate increased by 7.81% to 5.9783 at 4:35AM ET (0835GMT) not far from the highest history 6.1428 reached earlier.
President Erdogan of Turkey appeased the worries on Thursday when it said it was a campaign against Turkey.
He told supporters in Rize province: "Don't forget, if they have dollars, we have our people, our holy one. We work hard. Look what we had 16 years ago and we now ".
The Turkish Minister of Finance, Berat Albayrak, is said to be making the country's economic plan on Friday, but concerned about Erdogan's dictatorship and the economy of Turkey still haunts investors.
The Russian Ruble also fell at a rate of USD/RUB up 0.29% to 66.8808, the lowest level since Nov. 2016, after the U.S. imposed sanctions on the Kremlin by allegations of Russia poisoned his father's agent.
The Lira and the Ruble are declining also pushing Euro discount at EUR/USD discount of 0.69% to the lowest 2 months 1.1448. The table also dropped with a GBP/USD discount of 0.52% and 1.2760.
Meanwhile, the USD index, which measures the dollar strength against the currency basket, raises 0.51% to 95.95.
The Australian dollar dropped at a rate of $1% and 0.7298 while NZD/USD dropped 0.42% and 0.6585. The Canadian dollar is also reduced with USD/CAD rate increased by 0.57% to 1.3120
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