Thee U.S. dollar exceeded 3.00 level against Turkish lira for the second time this week on Friday after U.S. unemployment hit a seven year-low with 5.1 percent. The rate tested 3.001 level increasing from 2.97, slightly below its historic record of 3.002 achieved on August 20.
Although lower than market expectations, the overall U.S. unemployment rate fell to 5.1 percent from 5.3 percent in August and 173,000 new jobs were created.
Turkish lira's weakening began on Wednesday when it hit record low at TL 2.94 with anxieties stemming from the slowdown in the Chinese economy and the negative performance of emerging economies' currencies.
A survey conducted by Reuters with 29 respondents revealed expectations that the dollar will be traded between TL 2.71 and TL 3.20 over the next six months and between TL 2.68 and TL 3.43 over the next 12 months. Respondents also answered that they estimate the dollar will hover between TL 2.55 and TL 3.10 over the next month and between TL 2.64 and TL 3.35 over the next three months.
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