Turkish Lira Jumps To Near 2-month High Versus Dollar After Turkey Rate Hike
19 Noviembre 2020 - 02:02AM
RTTF2
The Turkish Lira gained ground against the U.S. dollar in the
European session on Thursday, after Turkey's central bank raised
interest rate by 475 basis points, saying that the depreciation of
the Turkish lira, increasing international food prices and
deterioration in inflation expectations pose risks to the inflation
outlook.
The Monetary Policy Committee of the Central Bank of the
Republic of Turkey, led by Governor Naci Agbal, decided to lift the
one-week repo auction rate to 15 percent from 10.25 percent.
In its policy statement, the central bank noted that it will
maintain strong monetary tightening until a permanent fall in
inflation is achieved.
The Turkish Lira climbed to 7.5383 versus the greenback, its
biggest level since September 25. At yesterday's close, the pair
was worth 7.6919. Next key resistance for the Lira is seen around
the 5.6 region.
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