Moody's released a report that evaluates the depreciation of the Turkish lira. Accordingly, the fragility of the country's credit rating negative for the TL stands out as the most important factor.
The Fragility Of The Turkish Lira In Terms Of The Negative Credit Rating!
Last month, international credit rating agency Moody's, Turkey's credit rating from Ba1 Ba2 to note the appearance of he turned from negative to stable. Giving a strong response to Moody's decision, the dollar has soared. An assessment of the loss of the past week's worth of Turkish lira, which makes moody's stated that Turkey's credit rating is negative, in terms of this situation.
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By experiencing tough losses in recent weeks, the Turkish lira, the worst performing currency among developing countries was the coins.
TL, in recent weeks, the deterioration in Moody's rating lower current account deficit and inflation, geopolitical risks have increased with the impact of continuous loss of value. With the exchange rate to the dollar and the euro broke a record. Credit rating agency Moody's foreign exchange reserves and the country's low external vulnerability, when considering the loss of pounds that has a negative impact on Turkey's credit rating is reported.
The depreciation of the Turkish lira continues, the foreign exchange income non-reimbursement I was told that will weaken the strength of the company.
The depreciation of the Turkish banking sector is negative, and coupled with the high inflation that was estimated troubled loans could be increased. Besides, upgrade, inflation, company profitability and consumer purchasing power that would bring his assessment of the institution took place between reducing the negative factors. They were ready to fight to prevent the depreciation of the lira, the central bank, but in case of being late, stated that they would come under pressure again.
Starting from the day the unemployment figures for the month of January 4,09 lira dollar didn't react much.
Turkey Statistical Institute, the unemployment figures announced this morning the first of the year. The unemployment rate is 10.8% and when you come to be unemployed, 3 million 409 thousand people was reported. The dollar and the euro started the week horizontal. After the unemployment figures were announced dollar short-term 4,10 level testing also re-4,09% and declined. Dollar/TL 14:00 4,0986 than trading. Day and starting at 5.05 euro, in the same minute 5,0704 level.