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Turkey retains tight lira liquidity to boost value

Central Bank skips repo auction for fifth trading day to stem sharp decline in lira value against other currencies

Turkey retains tight lira liquidity to boost value

World Bulletin / News Desk

Wednesday saw the Turkish central bank refrain from holding its one-week repo auction for the fifth time in a row.

The institution skipped the auction -- in which local banks borrow lira from the central bank -- for a fifth trading day as the bank acted to stem the sharp decline in the value of the Turkish lira against other currencies.

A repo auction has not been held since last Thursday. The bank signaled it would keep skipping the practice until volatility in foreign exchange rates calms down.

 
Last Mod: 18 Ocak 2017, 12:25
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