Turkish Lira Falls To Record Low Against U.S. Dollar After Turkey Decision
October 22 2020 - 5:15AM
RTTF2
The Turkish Lira lost ground against the U.S. dollar in the
European session on Thursday, after Turkey's central bank
maintained its key rates, saying that it will continue liquidity
measures until a significant improvement is achieved in the
inflation outlook.
The Monetary Policy Committee of the Central Bank of the
Republic of Turkey, led by Governor Murat Uysal, decided to hold
the one-week repo auction rate, at 10.25 percent. Economists had
expected the rate to be raised to 12 percent.
The Turkish Lira dropped to a fresh low of 7.9792 versus the
greenback, from a new 2-week high of 7.7787 set at 6:00 am ET. The
pair was worth 7.8091 at Wednesday's close.
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