Turkish lira weakens to all-time low against dollar

Earlier in the day, the Turkish Central Bank opened a forex-selling auction with a maximum volume of $70 million.

Turkish lira weakens to all-time low against dollar

The Turkish lira has weakened to an all time low of 1.846 against the U.S. dollar.

After closing at 1.804 on Wednesday, U.S. dollar opened on Thursday at 1.818, hitting as high as 1.824 at the Istanbul free market and exceeding March 2009 high of 1.82.

U.S. dollar broke a record and traded at 1.846 later in the day.

Meanwhile, euro traded at 2.478 at the opening of the Istanbul free market.

Earlier in the day, the Turkish Central Bank opened a forex-selling auction with a maximum volume of $70 million.

The lira weakened to 1.82 level versus the dollar on August 9, 2009.

Moreover, Istanbul Stock Exchange (ISE) has been down 4.19 percent, or 2,548.37 points to 58,279.52. The index, which closed Wednesday at 60,827.89 points, began Thursday around 59,607.87 points with a 1.59 percent and 968.94 points decrease.

ISE 100 index then closed the first session at 59,023.53 points with a 1,804.36 points and 2.97 percent decrease.

The index was below 59,000 points, exactly around 58,685 points, at the beginning of the second session. During the ongoing second session, it dropped to 58,279.52 points.

Thus, the daily loss in the ISE was 2,548.37 points and 4.19 percent.

Another economic indicator, gold also lost value on Thursday. An ounce of gold bullion was down to 1,730.97 USD--the lowest level in September.

Gold closed Wednesday around 1,782.30 points, and was over 1,7600 USD at the beginning of the day and climbed to 1,786.61 USD.

However, it dropped to 1,730.97 USD later on Thursday.

Gold is sold around 1,733.62 USD with 2.73 percent loss over Wednesday and 4.31 percent loss over last week.

AA

Last Mod: 22 Eylül 2011, 17:06
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