ISTANBUL (AA) – The Turkish lira rebounded Monday morning, reaching below 3 per dollar after figures from the world's largest economy showed weaker-than-expected U.S. economic growth.
According to analysts, moves by the Turkish economic administration to limit the affects of the July 15 coup bid on the economy also helped the Turkish lira's recovery against the dollar,
The dollar has been hurt by the U.S. Federal Reserve’s tightening monetary policy expectations following weak U.S. Gross Domestic Product data.
Local fixed income markets were relatively flat. The two-year benchmark bond ended at 9.24 percent, 4 base point below its previous close.
The buying and selling rates of the U.S. dollar, euro and British pound in Istanbul and Ankara on Monday, August 1, 2016, are:
ISTANBUL | Buying | Selling |
USD | 2.8940 | 2.9860 |
EUR | 3.3340 | 3.3360 |
GBP | 3.9620 | 3.9640 |
ANKARA | ||
USD | 2.9730 | 2.9930 |
EUR | 3.3160 | 3.3410 |
GBP | 3.9230 | 3.9940 |
