Turkish lira soars 6% after rate hike - Breaking The News

Turkish lira soars 6% after rate hike

24 August

1 min read

EPA-EFE/ERDEM SAHIN

The Turkish lira rallied more than 6% against the United States dollar, hitting the highest level since early July, after the country's central bank raised its key interest rate more than expected.

The Central Bank of the Republic of Turkey (CBRT) hiked its policy rate from 17.5% to 25% in an effort to "establish the disinflation course as soon as possible."

The dollar plunged 6.35% against the lira to sell for 25.48029 at 2:53 pm CET.

currencies lira

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