Turkey Swaps Rise to Highest Since 2009 as Inflation Exceeds 10%
By Selcuk Gokoluk -
2012-01-03T14:00:41Z
The cost of exchanging lira payments for dollar payments in the next one year rose to the highest level since 2009 after the country’s inflation rate surpassed 10 percent for the first time in three years.
Turkey’s one-year cross currency swaps (TYUSSW1) rose for a sixth day, adding 62 basis points, or 0.62 percentage point today, to 9.49 percent at 3:47 p.m. in Istanbul, the highest level since July 2009.
To contact the reporter on this story: Selcuk Gokoluk in Istanbul at sgokoluk@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net
Sponsored Link
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.