US dollar breaks historic record against Turkish lira amid security risks
by Daily Sabah
ISTANBULSep 07, 2015 - 12:00 am GMT+3
by Daily Sabah
Sep 07, 2015 12:00 am
The U.S. dollar broke its historic record against the Turkish lira with 3.0475, as news came of a large terrorist attack against the Dağlıca outpost in Turkey's southeastern province of Hakkari and casualties spread throughout the country and the world.
The dollar hit a historic high at $3.0475 to the Turkish lira Monday night and was trading at 3.03 on Monday morning as markets opened in Turkey, the rate gradually decreased back to 3.03 and then to the 3.0275 level.
As the pressure of domestic security concerns and political uncertainties on the Turkish lira increases, dollar-lira parity hit a historic high at 3.0475 at 1:21 a.m. over the night.
The parity, which was at the 2.9995 to 3.0019 level at 6:00 p.m. on Friday, reached the 3.0250 to 3.0275 level at 8:12 a.m. Monday morning. The basket-based Turkish lira, which was at the 3.1654 to 3.1678 level on Friday, soared to the 3.1977 to 3.2012 level after approaching a historic high at 3.22.
With the U.S.'s announcement of employment data on Friday, dollar-lira parity gradually surged in parallel with the data and rose over TL 3 for the first time after August 20. The dollar, which was TL 2.977 before the data was announced, increased up to TL 3.0005 after the announcement.
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