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Turkey Balance of Trade
Since 1947, Turkey's trade balance has been negative. The trade deficit increased 36.8% to USD 76.7 billion in 2017 from the previous year, as imports increased 17.7%, the fastest increase since 2011, while exports increased at a slower rate of 10.2%. Turkey's primary exports include road vehicles, textiles, iron and steel, apparel, and food, while its primary imports include machinery and transport equipment, manufactured products, mineral fuels and lubricants, and chemicals. China, Russia, Germany, South Korea, Switzerland, India, Iran, and Japan have recorded the highest trade deficits, while the largest trade surpluses were with Iraq, the UAE, the United Kingdom, Israel, Syria, Northern Cyprus, and Azerbaijan.
A higher than expected figure should be seen as positive (bullish) for the TRY while a lower than expected figure should be seen as negative (bearish) for the TRY.
Forex Sentiment (TRY)
| Symbol | Community Trend (Shorts vs Longs) | Symbol Popularity | Avg. Short Price / Distance From Price | Avg. Long Price / Distance From Price | Current Price | |
|---|---|---|---|---|---|---|
| EURTRY |
|
|
35.3538 -88435 pips |
44.1754 +219 pips |
44.19732 | |
| USDTRY |
|
|
38.8239 -2352 pips |
38.8572 +2019 pips |
39.05912 | |
| GBPTRY |
|
|
52.1016 -5695 pips |
0 +526711 pips |
52.67106 |
News (TRY)
Turkey Unexpectedly Lifts Rate By 350 Bps
The Turkish central bank raised its key interest rate in a surprise move on Thursday, reversing the sharp easing cycle that began last December, and also expressed preparedness to keep the policy tight. The Monetary Policy Committee, headed by Yasar Fatih Karahan, decided to raise the policy rate to 46.0 percent from 42.5 percent.
RTTNews | 40 days ago
Turkey Central Bank Slashes Rate By 250 Bps
Turkey's central bank lowered its benchmark rate for the third straight time on Thursday as the underlying trend of inflation softened. The Monetary Policy Committee, headed by Yasar Fatih Karahan, decided to reduce the policy rate to 42.5 percent from 45.0 percent, as widely expected. The bank had reduced the rate by 250 basis points each in December and January.
RTTNews | 82 days ago
Turkey Central Bank Slashes Rate For Second Straight Time
Turkey's central bank slashed its benchmark rate by 250 basis points for the second straight meeting on Thursday as inflation slowed more sharply towards the end of 2024. The Monetary Policy Committee of the Central Bank of the Republic of Turkey, or CBRT, headed by Yasar Fatih Karahan decided to cut the policy rate to 45.0 percent from 47.5 percent.
RTTNews | 124 days ago
