USD/TRY tests highs above 13.50 even as Turkish FinMin dismisses further lira depreciation

Turkish Finance Minister Nureddin Nebati downplays expectations of further depreciation of the lira, in his latest interview with the Nikkei Asian Review.

Additional quotes

“Inflation to peak below 50% in April.”

“2022 growth to be around 5%.

“No substantial fx interventions since December 19.”

Market reaction

Despite the encouraging comments from the Turkish official, the lira loses ground, pushing o fresh daily highs of 13.53. The pair is gaining 0.45% on the day.