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Tuesday, September 13 2011 , Your time is 15:58:00
The Turkish Lira appreciated against the U.S. dollar early on Feb. 23 amid hints from the Federal Reserve pointing to rate hikes as soon as March.
Turkey is studying the forex debts of its private sector and will take new macro-prudential measures in March, Deputy Prime Minister Mehmet Şimşek has said, adding that measures would include new forex restrictions against.
BEIJING - Reuters
China said on Feb. 3 it has never used its currency as a tool to gain an advantage in trade and was not seeking a “currency war”, after U.S. President Donald Trump criticized Beijing for harming American companies and consumers with a devaluation of its yuan.
Turkey’s Eximbank is set to pour $40 billion in loans and insurance into more than 100,000 companies in 2017 and to launch its own rating system to measure companies’ eligibility for loans, the head of the organization has said.
The Turkish Lira became a surprise winner on Jan. 30 by rising 1.2 percent in spite of Fitch’s decision on Jan. 27 to cut the sovereign rating to “junk” and Standard & Poor’s unexpected move to lower the outlook on Turkey’s rating from “stable” to “negative.”
LONDON - Reuters
World stocks hit 21-month peaks on Feb. 15 and the dollar rose for the 11th straight day, after Federal Reserve Chair Janet Yellen flagged a possible interest rate rise next month during upbeat comments on the U.S. economy.
LONDON - Agence France-Presse
Demand for gold rose in 2016 to a three-year high, aided by keen investment appetite for the precious metal, the World Gold Council said in a report on Feb. 3.
COVENTRY - Reuters
U.S. Federal Reserve Vice Chair Stanley Fischer said there was significant uncertainty about U.S. fiscal policy under the Trump administration, but the Fed would be strict in meeting targets of creating full employment and getting inflation to 2 percent.
Deutsche Bank has agreed to pay $630 million in fines for organizing $10 billion in sham trades that could have been used to launder money out of Russia, the latest in a string of penalties that have hammered the German lender’s finances.
MAINZ - Reuters
The U.S. administration should blame itself rather than Germany for a recent strengthening of the dollar against the euro, the head of Germany’s Bundesbank said on Feb. 7.
ANKARA - Anadolu Agency
The Turkish Central Bank has reduced its number of Monetary Policy Committee (MPC) meetings from 12 to eight times a year, the bank said Jan. 28.
ANKARA - Reuters
Foreign banks and sovereign wealth funds are interested in working with Turkey’s newly formed wealth fund, which is likely to make its first transaction this year, Turkish Finance Minister Naci Ağbal told Reuters on Feb. 8.
Ratings agency Fitch downgraded Turkey's sovereign debt to "junk" late on Jan. 27, snuffing out its last remaining investment grade by underlining deepening concerns over the country's political and security developments