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The Rise in The Turkish Lira After The Central Bank Pledged to Tighten Monetary Policy

Adel 2 April, 2021 12:30 pm Forex Market, Market Update

The Turkish lira rose more than 1% against the dollar on Friday, supported by a drop in US bond yields, a day after the new central bank governor pledged that tight monetary policy would remain as it was.

The pound rose to 7.9890 against the dollar, from 8.1 at the close on Thursday. it was recorded at 8.02. The currency fell to near-record lows in March after President Recep Tayyip Erdogan appointed the new governor of the central bank.

Volume is thin at the session due to a working holiday in Europe and elsewhere.

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