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Turkish lira rebounds firmly from near record low

Category: Economy

Date: 2021-05-17T10:14:11+0000
Turkish lira rebounds firmly from near record low

Shafaq News/ Turkey's lira rallied 1.2% on Monday, pulling back from near a record low on Thursday, as weaker U.S. economic data pulled U.S. yields lower, easing pressure as the emerging market economy re-opened after a four-day holiday weekend.

The currency TRYTOM=D3 was at 8.34 against the dollar at 0621 GMT. It has gained nearly 2% since Thursday of last week, when it touched its weakest level in six months, at 8.51, as global inflation concerns bubbled up.

Turkey's government on Monday lifted a daytime coronavirus lockdown, imposed 2-1/2 weeks ago, which included closing schools and some businesses. Nighttime and weekend curfews remain in place.

Source: Reuters

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