The lira fell more than 0.25 percent to 7.3880 against the dollar by 06:45 GMT, from about 7.3650, on Friday.
The budget deficit for the first seven months of the year was 139.1 billion liras, slightly more than the government had expected for the full year, according to Reuters.
Last week, Finance Minister Barat Albayrak said that the target of the budget deficit will not be achieved this year due to the Coronavirus pandemic, as the deficit rotates between 5 and 6 percent of GDP, compared to the previous government forecast of 2.9 percent.
While expectations have grown for an official increase in interest rates in order to curb the losses of the lira, the central bank has so far resorted to informal measures to raise the cost of financing, including steps on the level of liquidity and directing lenders to borrow at a higher rate.
A banker from the Treasury Department of a commercial bank said that the tightening measures are important for the pound, which has not fallen as fast as it did during The financial crisis In 2018.
The central bank announces its interest rate decision for August, Thursday. Some analysts expect him to raise the key interest rate, while others predict that he will continue the tightening policy through liquidity rather than an official rate hike.
And on Friday, he said Turkish President Rajab Ok Erdogan He will hold a meeting of his economic council to discuss developments, adding that Turkey has previously faced such attacks and that it stands on “Solid ground”.
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And so I came down Turkish Lira To a record low versus Dollar American investors have grown expectations of adopting Turkish Central Bank Monetary tightening moves as they await the interest rate meeting this week.
The lira fell more than 0.25 percent to 7.3880 against the dollar by 06:45 GMT, from about 7.3650, on Friday.
The budget deficit for the first seven months of the year was 139.1 billion liras, slightly more than the government had expected for the full year, according to Reuters.
Last week, Finance Minister Barat Albayrak said that the target of the budget deficit will not be achieved this year due to the Coronavirus pandemic, as the deficit rotates between 5 and 6 percent of GDP, compared to the previous government forecast of 2.9 percent.
While expectations have grown for an official increase in interest rates in order to curb the losses of the lira, the central bank has so far resorted to informal measures to raise the cost of financing, including steps on the level of liquidity and directing lenders to borrow at a higher rate.
A banker from the Treasury Department of a commercial bank said that the tightening measures are important for the pound, which has not fallen as fast as it did during The financial crisis In 2018.
The central bank announces its interest rate decision for August, Thursday. Some analysts expect to raise the key interest rate, while others predict that he will continue the tightening policy through liquidity rather than an official rate hike.
And on Friday, he said Turkish President Rajab Ok Erdogan He will hold a meeting of his economic council to discuss developments, adding that Turkey has previously faced such attacks and that it stands on “solid ground.”
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