"Dollar falls below YTL 1.15, lowest since mid-2001
Posted by meb at January 12th, 2008
The dollar was traded between YTL 1.144 and YTL 1.15 yesterday, the lowest levels that have been seen since June 2001.
Analysts say this declining trend has been shaped by the recent positive atmosphere in both economy and politics in Turkey, in addition to the global devaluation of the dollar. As a remedy to dollar’s continuously falling value, Federal Reserve Chairman Ben Bernanke indicated in a speech on Thursday that the US Central Bank is ready to cut interest rates aggressively to support growth and curb the adverse effects of increasing global risks."
Dollar falls below YTL 1.15, lowest since mid-2001 » Turkey Financial News