Turkish Central Bank begins forex selling auctions

The bank, which has not held forex selling auction since April 2, 2009, resumed auctions as of August 5.

Turkish Central Bank begins forex selling auctions

Turkish Central Bank started conducting foreign exchange selling auctions on Friday.

The bank, which has not held forex selling auction since April 2, 2009, resumed auctions as of August 5.

The Central Bank sold $50 million in today's auction, one of a series of measures announced on Thursday to support the currency.

Bids amounted to $91 million, while the minimum price was 1.7325 TL. The average price was 1.7344 TL and the maximum 1.7361 TL.

A statement by the bank said that the Central Bank of Turkey decided to provide foreign exchange liquidity to the market, through foreign exchange selling auctions on the days deemed necessary.

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Last Mod: 05 Ağustos 2011, 17:15
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