Turkish Lira Strengthens To More Than 3-week High Against U.S. Dollar
10 Agosto 2016 - 5:24AM
RTTF2
The Turkish Lira drifted higher against the U.S. dollar in New
York trading on Wednesday, as Turkey's Central Bank enhanced
liquidity available in the financial system by cutting
lira-required reserve rates for all maturities by 50 base
points.
The central bank on Tuesday reduced reserve requirement ratios
for banks by 50 basis points, which could provide up to 1.1 billion
Turkish Liras and $600 million to the financial sector.
The Lira climbed to 2.9464 against the greenback, its strongest
since July 18. The Lira is seen finding resistance around the 2.8
mark.
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