Page 29 - TURKRptMar20

7.0​ ​FX
Turkey FX
Feb 2019
Mar 2019
Apr 2019
May 2019
Jun 2019
Jul 2019
Aug 2019
Sep 2019
Oct 2019
Nov 2019
Dec 2019
Jan 2020
Feb 27
Currency (units per USD) (eop)
5.31
5.65
5.97 5.84 5.79 5.59 5.83 5.65 5.71 5.74 5.95 5.98 6.17
The lira weakened 11% in 2019, bringing its two-year losses to 36%.
On January 24, 2020, Albayrak told Japanese financial daily ​Nikkei​: “Within free-market rules, state banks pursue both the public interest as well as profitability, and this will continue as such.”
Albayrak, who also said that financial stability was “a matter of national security”, added that the switch to an executive presidential system in 2018 had made the banks more active market players, saying: “​All state banks, private banks, the central bank and other institutions started to become much more active market players in this new structure as strong stakeholders and acting in a more harmonious and coordinated fashion for financial stability​.”
Albayrak also said that the TRY “looks competitive” at around 5.70-5.90
29​ TURKEY Country Report​ March 2020 ​ ​www.intellinews.com