20 June 2013, Thursday
New York
New York

TURKEY'S LIRA WEAKENS TO 2.10 AGAINST EURO/DOLLAR BASKET

  • NewArticle
  • Published:05 Ağustos 2011, Cuma
  • Updated:05 Ağustos 2011, Cuma

Turkey's weakened to 2.10 against a euro/dollar basket on Thursday after a wave of policy measures by the Turkish , including a cut to its key policy rate.

The also weakened to 1.7333 to the dollar .

The stunned markets by cutting its policy rate, the one-week repo rate, to an all-time low of 5.75 percent. The bank also raised its overnight borrowing rate, lifting it to 5 percent from 1.5 percent, while the overnight lending rate stayed at 9 percent.