The Turkish Lira drifted lower against the U.S. dollar in European deals on Wednesday, after Turkey’s central bank kept key rates unchanged amid improved inflation.
The monetary policy committee decided to keep main one-week repo rate at 7.50 percent. The decision was in line with expectations. It also maintained borrowing rate at 7.25 percent and overnight lending rate at 10.75 percent, as expected.
The lira slipped to 2.7207 against the greenback, its lowest since April 15, when it hit a record low. This may be compared to an early 2-day high of 2.6784. At yesterday’s close, the pair was quoted at 2.6838.
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