Turkish Lira At More Than 4-Month High Vs U.S. Dollar After Strong GDP Data

Turkish Lira At More Than 4-Month High Vs U.S. Dollar After Strong GDP Data

31 March 2016, 13:43
Roberto Jacobs
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Turkish Lira At More Than 4-Month High Vs U.S. Dollar After Strong GDP Data

The Turkish Lira firmed against the U.S. dollar in European deals on Thursday, as Turkey's economy expanded at a faster-than-expected pace in the fourth quarter of 2015.

Figures from the statistical office Turkstat showed that gross domestic product grew 5.7 percent annually after a 3.9 percent increase in the third quarter, which was revised from 4 percent. Economists had forecast 5 percent growth.

The Turkish Lira climbed to 2.8202 against the greenback, a level not seen since November 2015. The Turkish Lira is seen finding resistance around the 2.80 zone. The pair was worth 2.8320 when it ended yesterday's trading.

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