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    Moody’s Upgraded Foreign Exchange Review Of Turkey

    Hürriyet Haber
    22.10.2003 - 11:10 | Son Güncelleme:

    The markets were excited by International Credit Rating Institution Moody’s statement that it upgraded Turkey’s review in foreign exchange from “negative” to “stable.” Moreover, the institution also upgraded the Turkish Lira review from “stable” to “positive.”

    Moody’s stated; These movements (in the markets) reflect a tendency in favor of reversing dolarization, a decline in the real interest rates in treasury securities, and an improvement in the debt dynamics.

    However the markets, which expected an upgrade in the overall rating of Turkey did not find this upgrade in review sufficient. ISE rose only by 236 points to 15.361 points and the value of dollar decreased by 2 thousand TL to 1 million 456 thousand TL.

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