The Turkish Lira Falls Slightly

The Turkish lira weakened slightly Thursday, May 6, ahead of the central bank meeting to set the interest rate, as it is expected to keep the main interest rate unchanged in the face of rising inflation.

The lira was at 8.3350 against the dollar, down slightly from the settlement rate of 8.3150 on Wednesday.

The currency has lost more than 10% of its value since the beginning of the year, which included a sharp wave of depreciation that followed the ouster of the central bank governor in March.

Estimates of all 18 respondents in a Reuters poll indicated that the central bank would keep interest rates unchanged.