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Lira Strong Despite Turkey’s Slowing Inflation

Turkish 200-lira billsThe Turkish Lira managed to gain today even after Turkey’s Inflation slowed more than was expected.

Turkey’s annual Inflation Slowed to 15.01% in August from 16.65% in July. Market participants were expecting a smaller slowdown to 15.51%. Experts speculated that the slowing inflation will likely result in an interest rate cut later this year.

USD/TRY dropped from 5.8051 to 5.7540 as of 12:28 GMT today. EUR/TRY declined from 6.3705 to 6.2978.


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Post tags: EUR/TRY, Inflation, Interest Rates, Lira, Turkey, USD/TRY

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Lira Strong Despite Turkey’s Slowing Inflation

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