Posts tagged 'Turkish Lira'

Analysts said ‘no change’, market in TRY said otherwise…

That’s after the Turkish central bank ignored all the noise around it and choose instead to leave interest rates on hold at 4.5 per cent. Read more

Turkey’s pending upgrade to currency war footing

So, Fitch has become the first of the ratings agencies to upgrade Turkey to investment grade, giving it its first such rating since 1994. It’s been a while coming and the Turkish lira jumped at the news — up 0.9 per cent at pixel time against the dollar to a three month high:

So far, so rosy… if unsurprising. But there may be an interesting by-product of this overdue upgrade. Namely, it might force the Turkish central bank into a smidgen of FX fiddling. That is, if the upgrade actually matters and inflows really step up. Read more