Turkish lira at best level against dollar in 2 months

By Jeyhun Aliyev

ANKARA (AA) - The value of the Turkish lira against the U.S. dollar has hit a two-month high, according to data compiled by Anadolu Agency.

By market close on Monday, the USD/TRY exchange rate plunged to 5.7830, falling over 2.5 percent from Friday's closing rate of 5.9320, marking the lira's best showing in two months.

Meanwhile, the U.S. dollar/ Turkish lira exchange rate started the week at 5.8420, and seen the lowest point of around 5.76 on Monday.

The average U.S. dollar/Turkish lira exchange rate was 6.04 during the first two weeks of October, 6.38 last month, and 5.74 in August.

In October, the highest stance of USD/TRY exchange rate was 6.1654, while it peaked at 6.6944 in September, and 6.8922 in August.

The euro/lira rate also showed a steep drop -- standing at 6.7020 at market close on Monday versus 6.8510 at the previous close -- and one British pound exchanged for 7.6080 compared to 7.8240 at Friday's close.

On Tuesday morning, the USD/TRY exchange rate rose slightly to 5.7950 as of 9.30 a.m. local time (0630GMT).