Aug 06, 2020
Turkey’s Lira Hits Record Low as Interventions Fail to Stem Drop
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Sanchez joins Inter Milan from Man United on free transfer Ways to upgrade your basement Turkey’s Lira Hits Record Low as Interventions Fail to Stem Drop
Turkey’s lira tumbled to its lowest level against the dollar as interventions by state banks failed to reassure markets.
The lira depreciated as much as 3.2% on Thursday to 7.2775, leading declines in emerging market. The previous all-time low was set in May. The cost of insuring the nation’s bonds against default climbed to the highest in three months, while the main stock gauge lost 4.8%, the worst performer among developing-nation peers. © Bloomberg Turkish currency's declines accelerate despite interventions
At the root of the currency strains are concerns about the level of Turkey’s reserves and an aggressive monetary easing cycle that’s fueled an outflow of foreign capital. Facing pressure on the currency to weaken, authorities have been leaning on state banks to bolster the lira with dollar sales, rather than raising interest rates or curbing the supply of credit.
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Denver Hits The Most 90 Degree Highs In Recorded History!
DENVER (CBS4)- Our thick blanket of smoke thinned out enough on Saturday to allow the sunshine to warm Denver (DIA) to 90 degrees for a high! This breaks the all time record for most 90 degree days in a summer.
The old record of 73 was set back in 2012. Most of our viewing area had a noticeable warm up on Saturday. With Greeley coming in at 92° and La Junta with the states high at 93°.
Fort Collins and Cheyenne stayed in the 80s in part because of the smoke still thick in those areas due to the smoke from the Middle Fork Fire burning north of Steamboat Springs.