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The USDTRY increased 0.0073 or 0.14% to 5.2784 on Thursday, December 27 from 5.2711 in the previous trading session. Historically, the Turkish Lira reached an all-time high of 6.86 in August of 2018.
Turkey foreign investment in 9-month
Turkey received $8.1 billion in international investment from January to September 2018, the Industry and Technology Ministry announced on Friday. The sum of net foreign direct investment (FDI) was $7.76 billion in the same period of 2017. According to the official data, the amount of net FDI the country received was $1.06 billion in September, while the highest amount of FDI was seen in August with $1.3 billion during the 9-month period.
Regarding investment, which is the leading item on the foreign direct investment account, direct influx to Turkey was some $4.26 billion, with 64.8 percent of this amount coming from the European Union. $943 million of the total equity investment record was in the manufacturing segment, followed by the financial sector with $916 million. Last year, Turkey attracted $10.94 billion in net international direct investment, $7.45 billion of which was equity investment inflow.
The Turkish consumer price inflation eased to 21.62 percent year-on-year in November 2018 from a near 15-year high of 25.24 percent in the prior month, and below market expectations of 22.58 percent. It was the lowest inflation rate since August mainly due to a favorable trend in oil, lira recovery and tax cuts in consumer durables, furniture, and automobile introduced by the government in early November. Inflation Rate in Turkey averaged 35.04 percent from 1965 until 2018.
In the latest reports of Turkey, Current Account recorded a surplus of 2.6 USD in Aug 2018. Turkey’s Direct Investment Abroad expanded by 234.0 USD in Aug 2018. It’s Foreign Portfolio Investment fell by 2.7 USD in Jun 2018. The country’s Nominal GDP was reported at 202.3 USD in Jun 2018.