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.

US Dollar vs TRY (FX:USDTRY)
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