March 29, 2019 / 8:58 PM / 3 months ago

Turkey's Erdogan sees "positive trend" for lira after volatile week

ANKARA, March 29 (Reuters) - Turkish President Tayyip Erdogan said on Friday that a “positive trend” of firming in the lira exchange rate had started but was not yet at “an ideal level”, after the currency experienced a volatile week ahead of Sunday’s local elections.

The lira weakened to as far as 5.6750 against the dollar on Friday after a week that brought back memories of last year’s currency crisis. It stood at 5.5575 at 2043 GMT.

Erdogan made the comments during an interview with state broadcaster TRT Haber. He did not say what he thought would be an “ideal level” for the lira. (Reporting by Tuvan Gumrukcu Editing by Gareth Jones)

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