The dollar slumped to 26.7797 Turkish lira, from 27.1962, after the Central Bank of Turkey increased its interest rates to 25% from 17.5%. “The Committee...
The dollar USDTRY, -1.68% slumped to 26.7797 Turkish lira, from 27.1962, after the Central Bank of Turkey increased its interest rates to 25% from 17.5%.
“The Committee decided to continue the monetary tightening process in order to establish the disinflation course as soon as possible, to anchor inflation expectations, and to control the deterioration in pricing behavior,” the central bank said. In July, inflation in Turkey was 47.8%.
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