Turkish lira has risen after the Central Bank cut its lending rate for deposits in USD and Euro to help boost foreign exchange liquidity.
The Central Bank decreased the lending rate in USD to 4.5 percent from 5.5 percent and the rate in Euro to 5.5 percent from 6.5 percent under its strategy developed during the meeting of the Monetary Policy Board.
"Developments in the foreign exchange market will be watched closely and measures that are needed will be taken in a timely," the Bank said in a statement on Tuesday.
The Bank's decision had an immediate impact on markets and TL gained 0.9 percent to 1,7740 per USD. USD started the day at around 1.787 TL. Meanwhile, TL also gained against euro. Euro traded at 2.523 TL after starting the day at 2.545 TL.
AALast Mod: 09 Ağustos 2011, 16:18