Lira depreciation effects 15% rise in textile exports
16 May '06
1 min read
Recent depreciation of Turkish Lira (TRY) against foreign currencies has effected a 15 percent rise in export of textiles within 10 days, said Jak Eskinazi, Chairman, Turkish Union of Ready Made Clothing Exporters.
"The increase of our exports is due to the change in Euro/Dollar parity in the international markets and also the result of the raise of the exchange rates in Turkey. These developments have positively affected our exports" said Eskinazi.
Exchange rate increase will affect future exports agreements, said Sabri Unluturk, Chairman, Union of Textile Industrialists of Aegean.
According to Unluturk, "the increase of the exchange rate of Euro provides advantages to the Turkish exporters in general and the textile exporters in particular. The situation might augment our competition opportunities".
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