The price of the Turkish lira fell against the Egyptian pound today, Wednesday, October 5, 2022, during daily transactions in the money market, as the price of the Turkish lira came today at 1.0590 Egyptian pounds, compared to 1.0595 Egyptian pounds yesterday, Tuesday, to return the price of the lira to fluctuation between rise and fall, with the stability of trading between the two currencies in Financial markets, at a time when Turkish President Recep Tayyip Erdogan developed a program to support the Turkish lira.
The price of the Turkish lira is witnessing against other currencies, such as the dollar, the Egyptian pound and the Saudi riyal, after reaching the stage of hyperinflation, which makes companies take into account the effects of the depreciation of the local currency, while the Turkish government is trying to restore the value of the lira through the announcement of the Central Bank of Turkey to fix interest rates at levels of 14%.
The price of the Turkish lira against the Egyptian pound today, Wednesday, October 5, 2022
The price of the Turkish lira against the Egyptian pound today, Wednesday, October 5, 2022, recorded a value of 1.0590 Egyptian pounds in the money market.
The price of the Turkish lira against the Egyptian pound
1 Turkish lira = 1.0590 Egyptian pounds.
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The price of the Egyptian pound against the Turkish lira
1 Egyptian pound = 0.9116 Turkish lira.
Turkish Finance Minister: The economy grew by 7% in the first quarter of 2022
For his part, Turkish Finance Minister Noureddine Nabati said that the initial indicators that the government is studying showed the economy’s growth 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 Reuters, 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.