Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV
  • Business
  • Automotive
  • Economy
  • Energy
  • Finance
  • Tourism
  • Tech
  • Defense
  • Transportation
  • News Analysis

Turkey's lira extends rebound, gains another 12% against greenback

by REUTERS

Dec 23, 2021 - 2:28 pm GMT+3
An employee counts Turkish lira banknotes at a currency exchange office in Ankara, Turkey, Sept. 27, 2021. (Reuters Photo)
An employee counts Turkish lira banknotes at a currency exchange office in Ankara, Turkey, Sept. 27, 2021. (Reuters Photo)
by REUTERS Dec 23, 2021 2:28 pm

The Turkish lira extended its stunning rally from record lows earlier in the week after the government launched a series of measures to prop up the currency.

The lira firmed another 12% to 10.85 against the dollar, taking its overall weekly gains to more than 40% and putting it on course for the best weekly showing ever, although in less liquid holiday markets.

The currency got a boost this week after President Recep Tayyip Erdoğan said the government and the Central Bank of the Republic of Turkey (CBRT) would guarantee certain local currency deposits against foreign exchange (FX) depreciation losses.

Meanwhile, the lira was also stronger Thursday in newly announced parity rates against foreign currencies, rates released every morning by the CBRT for FX-protected lira deposit accounts.

The U.S. dollar-Turkish lira exchange rate was 11.64 for buying and 11.66 for selling, down from 12.34 and 12.37, respectively, on Wednesday.

According to the bank, euro rates were 13.18 for buying and 13.21 for selling, falling from 13.91 and 13.94.

The bank announced the first set of rates Wednesday.

Under the new system, comparing the foreign exchange rates at the beginning and at the end of the maturity of resident real persons' accounts, the central bank will pay the difference, whichever is higher, to depositors.

The depositors will receive the principal and interest-profit share regardless of the exchange rates.

  • shortlink copied
  • Last Update: Dec 23, 2021 4:39 pm
    RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    turkish lira dollar
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    Percival Lugue, who has the Guinness world record for the largest fast-food toy collection, poses with his toy collection in his home in Apalit, Pampanga province, Philippines, April 20, 2021. (REUTERS Photo)

    Filipino man collects record 200,000 toys from fast-food chains

    TOY-MANIA
    Parts of the newly completed last section of the Northern Marmara Motorway, Istanbul, Turkey, May 19, 2021. (DHA Photo)

    Turkey raises speed limits on highways starting from July

    SPEED-LIMIT

    Türkiye's 1st domestic heavy-class attack helicopter starts engine

    heavy-class-attack-helicopter

    Istanbul's consulate chronicles: Sudhi Choudhary, Consul General of India

    SUDHI-CHOUDHARY
    Mount Ağrı
    Turkey's mightiest mountains
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021