Turkish Lira Trades At 5-day Low Vs U.S. Dollar After Turkey Rate Decision
20 December 2016 - 5:47PM
RTTF2
The Turkish Lira traded lower against the U.S. dollar in the
European session on Tuesday, after Turkey's central bank maintained
its key interest rates unchanged after raising the lending rate and
the one-week repo rate in November.
The Monetary Policy Committee, led by Governor Murat Cetinkaya,
kept the key lending rate, known as the Marginal Funding Rate, at
8.50 percent and the borrowing rate at 7.25 percent.
The one-week repo rate was also retained, at 8.00 percent.
The Lira slipped to a 5-day low of 3.5425 against the greenback,
of its early high of 3.5026. The next possible downside target for
the Lira is seen around the 3.59 level.
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