Turkish Lira strengthens against US dollar

The Turkish lira strenghtened against the US dollar after the intervention, achieving a closing rate of 2.18.

Turkish Lira strengthens against US dollar

World Bulletin / News Desk
 
The Turkish Lira has strengthened against the US dollar on Wednesday. The lira currency rose to its strongest level in two weeks.

After the historic peak of the US dollar in January, Turkey's Central Bank began to pump millions of dollars into the market every day. 

Lastly, the Central Bank injected $450 million into the market on Tuesday, while planning a repurchase auction for February 18.

The simple interest rate has been set at 10 percent, and the compound interest rate at 10.51 percent.

On January 28, the Central Bank more than doubled its borrowing rate from 3.5 percent to 8 percent, and raised the lending rate from 7.75 percent to 12 percent.

 

Last Mod: 12 Şubat 2014, 15:10
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