Turkish lira volatility causes fluctuating profit margins for miners

March 30, 2019 / www.metalbulletin.com / Article Link

Turkish miners are seeing their profit margins fluctuate daily, as the Turkish lira swings wildly against the dollar.

After a long period of stability since the country's financial crisis a year ago, volatility has returned to the Turkish lira over the last week, as it gains or loses up to 5% by the day. On March 22 the lira fell from 5.47 to the dollar, to a low of 5.83 to the dollar. The currency then changed direction, swinging to new highs of 5.36 to the dollar by March 26. At the time of writing the currency stands just above recent lows, at 5.65...

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