The USD reached 1.74 against the Turkish lira (TL) in Istanbul free market on Thursday, reaching its highest level in 2011.
One USD was around 1.702 TL as markets closed on Wednesday. It was traded around 1.704 TL on Thursday morning and reached 1.71 TL around noon.
After Central Bank's Monetary Policy Board made public its interest rate decision, foreign exchange rates started to rise in Istanbul free market.
Turkish Central Bank revised down its policy interest rate, or one-week repo rate, from 6.25 percent to 5.75 percent. The bank also changed its overnight interest rates, as it increased overnight borrowing rate from the previous 1.5 percent to 5 percent and kept lending rate unchanged at 9 percent
USD has climbed to 1.74 TL, reaching the peak since the beginning of this year. It is also the highest level the USD has reached since mid-March 2009.
One USD is bought at 1.725 TL as of 1:45 p.m. in the Istanbul free market, it is sold at 1.74 TL. One Euro's buying and selling prices are 2.455 TL and 2.47 TL respectively.
Moreover, Euro has almost once more broke its record against the TL. It reached 2.5 TL against TL last week.
In the interbank market, buying price of one USD is 1.727 TL the lowest and 1.729 TL the highest. The selling price is 1.733 TL the lowest and 1.744 the highest.
One USD rose to 1.82 against TL on March 9, 2009, breaking all-time record. USD completed the year 2009 below 1.5 TL, exactly around 1.497 TL. The year-end USD currency was 1.55 TL in 2010.
AALast Mod: 04 Ağustos 2011, 14:48