The Turkish Lira has continued to decline against the majority of its most traded peers as nationwide protests entered a seventh day. The instability caused by clashes between protestors and police and reports of escalating violence caused investors to seek shelter in safe havens.
Police clashed with protestors in Ankara and a pro government group attacked protestors in Prime Minister Tayyip Erdogan’s home town of Rize. According to reports around 90 protesters in Rize, led by officials from the Ataturk Thought Foundation, a secularist group, were stoned by a pro-government crowd of some 500 people. Police intervened by sing teargas and pepper spray to disperse the pro-government crowd and led the protestors to safety.
Last night police used water cannons and tear gas to disperse a large group of protestors in Ankara’s central Kizily Square. Today sees the return of Prime Minister Erdogan who had been touring North Africa and who had dismissed the protesters as extremists and terrorists. The protests have escalated from a protest over construction on a historical park in Istanbul to what some see as an anti-government struggle.
The Lira was weakened by the ongoing instability and was dragged down further by speculation that signs of an improvement in the US economy will lead to the Federal Reserve tapering off its monetary stimulus measures, an act that would ham emerging currencies such as the Lira.
Current Turkish Lira (TRY) Exchange Rates
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The Turkish Lira/Pound Sterling Exchange Rate is currently in the region of: 0.3429 <
The Turkish Lira/Euro Exchange Rate is currently in the region of: 0.4037 <
The Turkish Lira/ US Dollar Exchange Rate is currently in the region of: 0.5297 <
The Turkish Lira/Japanese Yen Exchange Rate is currently in the region of: 52.5633
The Euro/Turkish Lira Exchange Rate is currently in the region of: 2.4767 >
The US Dollar/Turkish Lira Exchange Rate is currently in the region of: 1.8875 >
The Japanese Yen/Turkish Lira Exchange Rate is currently in the region of: 0.0190 >
(Correct as of 10:45 am GMT)
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