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MORE: Turkish Lira Falls to New Low Against Dollar

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Aug. 28 (Bloomberg) -- Lira drops as much as 1.6% to 2.0693 per dollar, the lowest level since at least 1981, and trades 0.8% weaker at 2.0516 at 9:43am in Istanbul. * Lira lost 9.5% against dollar in last 3 months in biggest

decline among emerging markets in Europe, Africa and Middle

East. It has weakened 13.1% this yr against dollar in

biggest depreciation among major emerging markets in EMEA

after South African rand * Lira declines as much as 1.5% to 2.7698 against euro, a new

record, and traded 0.8% lower at 2.7484 at 9:41am in

Istanbul * Volatility on lira for past 3 months little changed at

11.09% * Lira will weaken to 2.09 against dollar in 4Q, according to

currency forwards. It will be 2.0955 in December, currency

futures traded in Istanbul show * Lira relative strength index is at 80, above the 70

threshold commonly cited by technical traders as being in

“oversold” territory; see graph: USDTRY <Curncy> RSI <GO>.

The rate is 49 for Polish zloty and 68 for South African

rand * NOTE: Central Bank Governor Erdem Basci pledged to keep the

overnight lending rate on hold, saying a rate above 7.75%

would be “harmful”, link: NSN MS71AL6S972B <GO>

Story Link:NSN MS87GJ6S972G<GO>

Story Link:NSN MS88BG6S972E<GO>

For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

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