Euro hits all-time peak against Turkish lira, dollar nears record high

DAILY SABAH
ISTANBUL
Published
In this Monday, June 8, 2015, file photo, Turkish liras, euros and U.S. dollars are stacked at a currency exchange office in Istanbul, Turkey. (AP Photo)
In this Monday, June 8, 2015, file photo, Turkish liras, euros and U.S. dollars are stacked at a currency exchange office in Istanbul, Turkey. (AP Photo)

The euro once again broke its historic record Wednesday at 4.6053 against the Turkish lira, with the U.S. dollar reaching its 1.5 month high and all time high at 3.91.

With expectations of interest rate hikes in the U.S. and the impact of continued high inflation in Turkey, the dollar rose to 3.91 liras Wednesday morning, while the euro hit its high at 4.60 amid unexpectedly strong growth in Germany's economy.

The euro-dollar exchange rate also rose to a three-week high at 1.1805.

The dollar fell from last week's 3.90 level to 3.87 lira at the beginning of the week, climbing again to 3.91 to reach its highest level in 1.5 months. On Wednesday morning, the dollar fell back to 3.90.

The euro came down to 4.5950 on Wednesday morning after reaching its historic peak with 4.6015 at night and rising again to hit 4.6053.

On January 12 this year, the dollar was at a record level of 3.9422.

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