The Turkish lira (Turkish: Türk lirası; sign: ₺; code: TRY; usually abbreviated as TL) is the currency of Turkey and the self-declared Turkish Republic of Northern Cyprus. The Turkish lira is subdivided into 100 kuruş.
The Turkish Lira’s “implied” volatility hit its lowest since early August and broke through a key technical level on Nov. 14, as falling oil prices added to a general easing of worries around the currency in the last few months.
Last week’s slide in crude was partly behind the weakness in the Russian ruble, Mexican peso and Malaysian ringgit, according to Societe Generale SA. With oil wallowing in a bear market, Saudi Arabia expressed the need for oil producers to cut 1 million barrels a day from October levels and announced
Italy's top bank UniCredit missed third-quarter profit forecasts after writing down its stake in a Turkish bank by almost $1 billion and covering for an expected settlement of an Iran sanctions case with the United States.