Turkish lira continues to slide, trading at 10 to Euro – Bianet

Reserve currencies rose to an all-time high against the Turkish lira today (November 3), just before the announcement of the US election results.

Losing 33 percent of value against the European currency since the start of the year, the lira has sunk below the 10-per-Euro threshold.

The Euro crossed the threshold of 10 against lira, which has lost 33 percent of value against the European currency since the start of the year.

It also declined to a new record low against the US dollar, which is traded at 8.54 lira.

The US dollar – Euro parity stands at 0.85.

The exchange rate of the UK pound to the lira stands at 11.11.

One gram of gold is sold at 524.1 lira, one quarter gold coin is sold at 838.1 lira and a full gold coin is sold at 3457.4 lira.

The exchange rate of the US dollar has risen despite a move by the Central Bank to raise the interest rate swaps.

The Central Bank continued to tighten its monetary policy through the liquidity channel yesterday and reduced the borrowing limits of banks to zero in the Interbank Money Market under its structure. (HA/VK)

Source: Turkish lira continues to slide, trading at 10 to Euro – english