The Turkish lira is raised to the highest level within 3 months


Indications: The Turkish lira rose by more than 1.5% on Monday against the US currency, reaching a three-month high, as Ankara reduced US sanctions against Iran.

Washington has announced that 8 countries, including Turkey, will grant a temporary exemption for six-month US sanctions on Iranian oil imports.

Economic data showed today, the acceleration of inflation in Turkey, the highest 25% in October, more than the expectations of analysts to stay at the highest level in 15 years.

Last week, the central bank governor put inflation expectations at 23.5 percent by the end of next year, compared with 13.4 percent in previous estimates.

By 17:40 GMT, the Turkish lira rose 1.6 percent compared to the dollar at 5.3419 pounds, the lowest since August 7.


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