USD/TRY breaks below 6.5 on CBRT auction

Eren Sengezer FXStreet

The Turkish Central Bank (CBRT), which decided not to carry out any auction due to high volatility on Monday, announced that $1.5 billion with 2-week maturity was offered in today's swap auction and the TRY interest rate rose to 19.25% from 17.75 while the USD rate remained unchanged at 2%.

At the moment, the USD/TRY is trading at 6.4570, losing 6.25% on the day.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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