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Foreign exchange: Euro at 1.13 US dollars – Lira stable despite criticism from experts

Wednesday, 12/22/2021 12:47 PM from

dpa-AFX

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Different currencies. © alfexe / iStock / Getty Images Plus / Getty Images

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FRANKFURT (dpa-AFX) – The euro increased slightly on Wednesday. At noon, the common currency cost around 1.13 US dollars, a little more than in the morning. The European Central Bank (ECB) set the reference rate on Tuesday afternoon at 1.1295 dollars (dollar rate).

Trading between the euro and the dollar was largely calm. The euro received some support from the friendly mood on the stock markets. The US dollar was therefore somewhat less in demand as a reserve currency, from which other currencies mostly benefited.

The Turkish lira is currently developing in a relatively stable manner. Currently, 12.5 lira are due for one dollar, 14.1 lira must be paid for one euro. The national currency of Turkey is thus trading well above its recently marked record lows, but in a longer comparison it remains weak. The government’s stabilization package, which aims to level out exchange rate fluctuations, is still having an impact. Before the state intervention, the lira had been in a drastic decline as investor confidence in the country’s economic and monetary policy suffered.

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