Analysts expect long-term volatility of Turkish lira.
June 9, 2019, 8:22 pm

Analysts expect long-term volatility of Turkish lira.

Turkish lira traders returning after the Ramadan holiday will have to make do with a look at the currency’s best run over the past five years, according to Bloomberg.

Experts advised that more political upheaval on the way means it could be a long wait before there’s a comparable winning streak.

The lira fell on Friday after a 10-day run of gains, the longest streak since May 2014, Turkish traders sat out much of that because of the three-day holiday.

Turkish currency is the greatest loser.

While they were away, emerging-market concerns resurfaced, with Mexico downgraded by Fitch Ratings and political tension mounting before a re-run of the Istanbul vote on June 23. The lira was the biggest loser among developing-nation currencies on Friday, weakening as much as 1.5% and trading down 1.2% at 5.8497 per dollar.

Be cautious.

“While the carry-friendly market environment seems favourable for the Turkish lira at first glance, traders should remain cautious with their long-lira positions in the coming weeks,” said Ipek Ozkardeskaya, a senior market analyst at London Capital Group. “The rally could be short-lived, carry traders should stay cautious before the political scene gets bad again”, she clarified.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
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