Turkish Lira Falls Back Against U.S. Dollar After Turkey Rate Decision
October 21 2015 - 3:49AM
RTTF2
The Turkish Lira turned negative again against the U.S. dollar
in European deals on Wednesday, after Turkey's central bank left
its main interest rates unchanged for an eighth straight month,
ahead of an election on November 1.
The Monetary Policy Committee of the Turkish central bank
decided to keep the one-week repo rate at 7.5 percent. The
overnight lending rate was left unchanged at 10.75 percent and the
borrowing rate at 7.25 percent.
The decision was in line with economists' expectations.
The Lira was trading at 2.9113 against the greenback, heading to
violate its early 1-week low of 2.9134. If the Lira extends slide,
it may challenge support around the 2.95 region.
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