Dollar-Lira Rate Breaks 50 as Turkish Currency Weakens
The dollar crossed 50 lira for the first time, while investors watched U.S. elections and upcoming jobs data.
Key takeaways
- The dollar-lira rate rose above 50, reaching a record, according to Ekonomim.
- The euro-lira rate climbed to 56.16, according to the report.
The dollar rose above 50 lira on Monday, reaching a record as the Turkish currency weakened. Ekonomim reported the rate at 49.97 at 09:18, before it crossed 50 at 11:57.
As of 10:11 UTC, USD/TRY traded at 49.97, up 0.07% since the previous close, after reaching an intraday high of 50.008.
The euro also advanced, rising from 55.91 in the morning to 56.16 at 11:57, Ekonomim reported.
Investors were watching U.S. midterm elections and Friday’s jobs report. The report said earlier U.S. data showed a 4.2% unemployment rate and 29 bin nonfarm jobs added.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
