The Turkish currency took a breather after the record for the last 20 years and slightly rose during the trading to 11.58 dollars per Lair. Bloomberg connects the growth of the Lyra with the official meeting between the heads of Turkey and the United Arab Emirates (UAE).
Turkish President Recep Tayyip Erdogan will discuss with the Crown Prince Abu Dhabi Sheikh Mohammant Ben Zaid Al Nahayan Agreement on cooperation between his welfare funds and stock exchanges. Against the background of their meeting, which was held in Ankara, Lira rose by 11 percent.
The story shows that Lira tends to recover after sharp drops when the situation ceases to deteriorate – even if the conditions are not improved, “said MEDLEY Global Advisors in New York Nick Stadmiller.