Turkish Lira Drops To Near 9-month Low Versus U.S. Dollar After Turkey Rate Cut
19 Febrero 2020 - 1:25AM
RTTF2
The Turkish Lira moved down against the U.S. dollar in the
European session on Wednesday, as Turkey's central bank cut its key
interest rate by 50 basis points, the sixth consecutive cut in an
aggressive easing cycle that began in July last year.
The Monetary Policy Committee, led by Governor Murat Uysal,
slashed the policy rate, which is the one-week repo auction rate,
to 10.75 percent from 11.25 percent.
"At this point, the current monetary policy stance remains
consistent with the projected disinflation path," the bank
said.
"As the contribution of net exports to economic growth declines,
economic recovery is expected to be sustained with the help of the
ongoing disinflation process and improvement in financial
conditions," it added.
The Turkish Lira declined to near a 9-month low of 6.0809 versus
the greenback from Tuesday's closing value of 6.0540. The Lira may
locate downside target near the 6.5 level.
US Dollar vs TRY (FX:USDTRY)
Gráfica de Divisa
De Mar 2024 a Abr 2024
US Dollar vs TRY (FX:USDTRY)
Gráfica de Divisa
De Abr 2023 a Abr 2024