Turkish Lira


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Turkish Lira

The currency of Turkey. It traces its history back to the Ottoman Empire. Until 2005, the lira was subject to high (though not crippling) inflation. The "new lira," which revalued the currency, was introduced in 2005. It 2009, the word "new" was removed from coins, and it became the lira again.
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But Turkish Cypriots cannot abolish the Turkish lira in the north altogether.
Sancak primarily provided 540 million Turkish lira but his company investment company ES Mali Yatirim increased the offer after negotiating with the auction commission.
So, by the end of March, the central bank was very comfortable with the levels of both the nominal and real exchange rates since there was room for a limited decrease of the nominal exchange rate, allowing some appreciation of the Turkish lira. Nonetheless, by the end of April the real exchange rate index reached 108 due to two evolutions.
Turkish Cypriot 'prime minister Tufan Erhurman will reportedly travel to Ankara within the week to meet with Turkish President Recep Tayyip Erdogan to discuss the measures taken to offset the downfall of the Turkish Lira.
He added: The value of the Turkish Lira in this date last year was equal to 350 Lira per hundred dollars.
The Turkish Lira's steep decline in recent months will likely imply worsening asset quality and growth in risk-weighted assets (RWAs) that will become pressure points for Turkish financial institutions, says Moody's Investors Service.
Turkey's Treasury auctioned 7.2 billion Turkish Liras ($3.3 billion) in 3 bond auctions in a test of investors' demands for Turkish assets after the ruling AK Party's municipal elections victory.
17, the date the probe scandal became public, the Turkish lira lost 12 percent of its value.
The rapidly declining Turkish lira has led to an emergency meeting being called by the central bank in Turkey.
"The Turkish lira is seemingly under added pressure due to heightened tension in Syria," said a note from Ekspres Invest.
According to Shavasb Bohjdalian, CEO of Eurivex, a company that offers trading platforms that include the Turkish lira, the Turkish lira has dropped by 18.8% so far against the euro this year and by 15.5% against the dollar.
M2 EQUITYBITES-May 24, 2011--KfW boosts Turkish lira bond(C)2011 M2 COMMUNICATIONS http://www.m2.com

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