The price of the Turkish lira rose against the Egyptian pound today, Tuesday, August 9, 2022, during daily transactions in the money market, as the price of the Turkish lira came today at 1.0671 Egyptian pounds, compared to 1.0660 Egyptian pounds, to continue the fluctuation between the rise and fall in the price of the lira after Turkey reached the inflation stage. Excessive trading, which makes companies take into account the effects of the depreciation of the local currency, with the continued stability of trading between the two currencies in the money markets.
Turkey is witnessing a decline in the price of the Turkish lira against other currencies, such as the dollar, the Egyptian pound and the Saudi riyal, while the Turkish Central Bank announced fixing interest rates at levels of 14% to restore the value of the lira, while Turkish President Recep Tayyip Erdogan set a program to support the Turkish lira.
The price of the Turkish lira against the Egyptian pound today, Tuesday, August 9, 2022
The price of the Turkish lira against the Egyptian pound today, Tuesday, August 9, 2022, recorded 1.0673 Egyptian pounds in the money market.
The price of the Turkish lira against the Egyptian pound
1 Turkish lira = 1.0674 Egyptian pounds.
The price of the Egyptian pound against the Turkish lira
1 Egyptian pound = 0.9145 Turkish lira
Turkish Finance Minister: The economy grew by 7% in the first quarter of 2022
For his part, Turkish Finance Minister Noureddin Nabati said that the initial indicators that the government is studying showed that the economy grew by up to 7% in the first quarter of 2022.
Nabati added, in a speech he delivered at the Banks Association meeting, which was reported by Archyde.com, that he is still convinced that the rise in inflation in Turkey is temporary, stressing that the banking sector is capable of facing potential shocks.