A weekend report that Iraq expects to reach an agreement with the Kurdistan Regional Government (KRG) and foreign oil companies to resume oil production from the Kurdish region’s oilfields within three days. Via a statement from Iraqi oil minister Hayan Abdel-Ghani. Iraq has reached an understanding with Turkey in relation to resumption of northern oil
Share: Since the surprise interest rate hike on August 24, which gave the Lira a tidy 6% boost, the Turkish currency has been depreciating as if on a string. Economists at Commerzbank analyze TRY outlook ahead of the Turkish Central Bank (CBT) Interest Rate Decision. CBT’s restrictive monetary policy is only a necessary
Share: Economists at Wells Fargo discuss Turkish Lira (TRY) outlook. Sentiment toward Türkiye can improve To be clear, we still forecast a weaker Turkish currency over the course of our forecast horizon; however, we have scaled back the magnitude of that depreciation to reflect improving and more orthodox trends in policy. After 21.50
Share: The USD/TRY is rising by 0.45% to 27.11. The CBRT hiked rates to 30% as expected. Due to the Fed’s hawkish pause, US yields continue to rise, pushing the pair to the upside. In Thursday’s session, the USD/TRY gained more ground and broke the 27.00 barrier while investors digested the fresh Central Bank
In a significant move aimed at bolstering the lira, Turkey has increased the cost for banks to provide short-term deposits, a policy change that forms part of a $124 billion government-backed lira savings program. The new regulation was issued by the central bank and published in the Official Gazette on Thursday. Under this new rule,
© Reuters. U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/file photo By Joice Alves and Tom Westbrook LONDON/SINGAPORE (Reuters) – The dollar edged up on Thursday as investors were cautious after softer-than expected economic data muddied interest rate outlook ahead of the Federal Reserve’s Jackson Hole symposium, while the
© Reuters. FILE PHOTO: Woman holds Turkish Lira banknotes in this illustration taken May 30, 2022. REUTERS/Dado Ruvic/Illustration ANKARA (Reuters) -Turkey’s central bank began rolling back on Sunday a growing and costly scheme that protects lira deposits from FX depreciation, marking another move toward more orthodox policies following a shift toward interest rate hikes. The
© Reuters. FILE PHOTO: A logo of Turkey’s Central Bank is pictured at the entrance of its headquarters in Ankara, Turkey October 15, 2021. REUTERS/Cagla Gurdogan/File Photo By Nevzat Devranoglu and Orhan Coskun ANKARA (Reuters) – Turkey’s net foreign exchange reserves surged nearly $5 billion last week, with total reserves up almost $2 billion, bankers’
