The Turkish lira slid amid a dearth of liquidity also in line with losses across emerging-market currencies.
Read: Rand starts week on back foot against dollar
The dollar was trading 2% higher at 6.29 liras at the time of 9:50 a.m. in Istanbul. Monday’s move came amid low trading volumes, depending on an Istanbul-based currency trader who declined being named because the body’s not authorised to speak to the media. The MSCI Emerging Markets Currency Index declined 0.4%.
The lira rallied almost 4% a while back as Turkey’s central bank jacked up rates by 625 basis suggests stem a 40% slide during the exchange rate this coming year that’s stoking runaway inflation.
? 2018 Bloomberg L.P
