The Turkish Lira continued to recover against the US Dollar after Turkish police drove protesters out of Istanbul’s Taksim square, the centre for national anti government protests in the country and as the Turkish central bank took action to boost the Lira.
Following a night of violence calm has returned to Turkey’s biggest city and with it came a rise in investor confidence that the unrest is close to ending.
Thousands converged on the square as night fell on Tuesday and were repelled by water cannon, rubber bullets and tear gas. Riot police repeatedly charged the square clashing with protestors that threw stones and firebombs.
Under fire Turkish Prime Minister Tayyip Erdogan addressed the nation in a televised speech said “To those who are at Taksim and elsewhere taking part in the demonstrations with sincere feelings: I call on you to leave those places and to end these incidents and I send you my love, But for those who want to continue with the incidents I say: ‘It’s over. As of now we have no tolerance for them.”
Since the unrest began on the 31st of May some 5,000 protestors have been treated for injuries and 600 police officers have also been injured in the violence. According to the Turkish Human rights foundation up to four people have been killed, including one policeman.
Anger against Erdogan’s increasingly authoritarian rule remains high with most the protestors retreating to the nearby Gezi Park, the spot where the protests began.
“Ok, he came to power with the most votes, but that doesn’t make him an emperor,” said Sinem Ayata, a recent graduate drinking tea with friends under a makeshift shelter in Gezi Park. “The government won’t fall, and they’ll probably cut down the trees anyway. But we’re here to oppose this style of ‘I’m doing it, and that’s that’.”
The Turkish Bank supported the Lira as it planned short-term extra policy-tightening steps through open market operations. It skipped its usual fixed-rate repo auction and held five $50 million forex-selling auctions, saying it would continue such sales whenever necessary. It said it would also intervene directly in the foreign exchange market if needed.
Current Turkish Lira (TRY) Exchange Rates
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The Turkish Lira/Pound Sterling Exchange Rate is currently in the region of: 0.3394
The Turkish Lira/ US Dollar Exchange Rate is currently in the region of: 0.5317 >
The Turkish Lira/Japanese Yen Exchange Rate is currently in the region of: 51.4469
The Euro/Turkish Lira Exchange Rate is currently in the region of: 2.5018 <
The US Dollar/Turkish Lira Exchange Rate is currently in the region of: 1.8806
(Correct as of 11:55am GMT)
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