Turkish Lira at Highest Level in Two Weeks Before The Central Bank’s Decision

The Turkish lira rose to stand at less than 7.85 against the dollar on Wednesday, the highest level since the seventh of October, as investors awaited the central bank meeting this week to set the interest rate.

The currency has weakened in recent weeks due to geopolitical tensions, including the conflict between Armenia and Azerbaijan and the dispute between Ankara and Athens over ownership of resources in the eastern Mediterranean.

And the lira recorded 7.8250, up about 0.5% from Tuesday’s close at 7.86.