Bloomberg News

Lira Heads for its Lowest in Six Weeks on Current-Account Data

March 12, 2012

The lira retreated for a third day and headed for the lowest level in more than six weeks.

The lira depreciated 0.2 percent to 1.7910 per dollar as of 9:37 a.m. in Istanbul, its weakest level since Jan. 26 on a closing basis, paring its year-to-date appreciation to 5.6 percent.

The central bank will release current-account figures at 10.00 in Ankara. Turkey’s deficit probably narrowed on an annual basis for the third consecutive month in January. The deficit in the month was $5.5 billion, according to the median estimate of six economists surveyed by Bloomberg.

To contact the reporter on this story: Selcuk Gokoluk in Istanbul at sgokoluk@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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