Page 29 - TURKRptMar20
P. 29

          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
 










































































   27   28   29   30   31