The Central Bank of the Republic of Turkey (CBRT) has left its key interest rate unchanged. The CBRT retains the 17.00% benchmark for the 1-week repo rate, and this has led to some strengthening of the Lira against the US Dollar. The USDTRY is down 0.33% as of the time […]
The Lira continues to extend its gains against the US Dollar, as cheap investment dollars now seeks emerging market currencies that have a higher interest rate and therefore are capable of producing a higher yield. This carry trade scenario appears to favour the Lira in its pairing with the US […]
The Turkish Lira has gained a modest 0.1% in its pairing with the US Dollar, after data released late Friday showed that Turkish Manufacturing Confidence grew from 106.8 in December 2020 to 107 in January 2021. This allowed the USDTRY to extend its downside slightly, following the bearish move that […]
The Turkish Lira gained strength for the 3rd straight session after the Central Bank of the Republic of Turkey (CBRT) left the interest rates unchanged at 17.00%. Further adding to the weakness of the USDTRY was the prevailing bearish sentiment on the greenback, as inflows pour into emerging market currencies […]
The CBRT raises interest rates by 475 bps. Sign up to find out how the USDTRY responded.
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News flash: Turkey’s President, Recep Erdogan has reportedly fired Central Bank of Republic Governor Murat Uysal, barely 15 months into his tenure. News sources such as IG Squawk are quoting an official gazette as the source of the news report. This could have major implications of the Turkish Lira, which […]
The Central Bank of the Republic of Turkey (CBRT) stood pat in today’s interest rate decision, leaving interest rates unchanged at 10.25% and sending the USDTRY to test all-time highs above 7.97. This decision followed last month’s rate increase, the impact of which has since faded and given way to geopolitical […]
Turkey’s involvement in the escalating Azerbaijan-Armenian conflict weighs heavily on the Lira, as the Turkish currency looks set to clock the 8.000 mark after it fell further against the greenback on Thursday. Despite the rate hike of two weeks ago by the Central Bank of the Republic of Turkey (CBRT), […]
The Central Bank of the Republic of Turkey (CBRT) held interest rates at 8.25%, and it has just released its minutes, where it has indicated that it stands prepared to continue with the liquidity measures it has put in place despite forex scarcity. As a result, the Lira was able […]