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USD/TRY Creeps to New Record Highs as Erdogan Shrugs Off FX Rate

TURKEY

USD/TRY rallies following the London close, with the rate inching to fresh alltime highs at 11.4077 as Erdogan speaks following a cabinet meeting.


Erdogan states that:

  • Price hikes on the weak TRY won't impact employment
  • A competitive TRY is to help investments and jobs
  • There is not only one method to fight inflation

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