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Istanbul Stock Exchange to take measures to stop the bleeding pound[/size]
Twilight News
2 hours ago
Istanbul Stock Exchange to take measures to stop the bleeding pound[/size]
Twilight News
2 hours ago
The Istanbul Stock Exchange has converted all foreign currencies in excess of its short-term needs to the Turkish lira as of Wednesday, in a move to boost the exchange rate of the lira.
The exchange said in a statement, according to quoted by the agency "Anatolia" that the conversion of surplus foreign currency to the Turkish lira, showing the confidence of the exchange in local currency.
It also pointed to the economic growth achieved in Turkey last year, which reached 7.4%, and to the exports, which increased by 2017 by 10.2% to exceed the level of $ 157 billion.
The decision comes after the Turkish currency fell sharply, record levels, as affected by the rise of the US currency and concerns about the ability of the Central Bank of Turkey to curb the rate of inflation in the country.
The exchange said in a statement, according to quoted by the agency "Anatolia" that the conversion of surplus foreign currency to the Turkish lira, showing the confidence of the exchange in local currency.
It also pointed to the economic growth achieved in Turkey last year, which reached 7.4%, and to the exports, which increased by 2017 by 10.2% to exceed the level of $ 157 billion.
The decision comes after the Turkish currency fell sharply, record levels, as affected by the rise of the US currency and concerns about the ability of the Central Bank of Turkey to curb the rate of inflation in the country.
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