Turkish lira fell against the US dollar ahead of the central interest rate decision
The Turkish lira fell 0.45% against the US dollar today, Thursday, ahead of a central bank meeting on interest rates, and the bank is expected to raise its benchmark interest rate by 150 basis points.
Turkish lira fell 0.45% against the US dollar today, Thursday, ahead of a central bank meeting on interest rates, and the bank is expected to raise its benchmark interest rate by 150 basis points.
The currency reached 7.6590 against the dollar by 04:51 GMT, a level slightly below its closing price yesterday, Wednesday, at 7.6250.
The Turkish central bank had raised interest rates last November from 10.25% to 15%, on the one-week repo operations.
A Reuters poll concluded that the central bank is expected to continue tightening policy, raising its key interest rate to 16.5% from 15% now.
The central statement said at the time that it was decided to raise the interest rate;
To re-establish the process of reducing inflation and support the stability of the lira.
Since the beginning of this year, the Turkish lira has fallen by about 23%.
