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Forex News: Turkish Lira Falls To Near 2-week Low Vs

Turkish Lira Falls To Near 2-week Low Vs U.S. Dollar After Turkey Decision

07/24/2018 - 08:40:00 (RTTNews)

(RTTNews) - The Turkish Lira declined against the U.S. dollar in the European session on Tuesday, after Turkey's central bank left its key interest rate unchanged unexpectedly.

The Monetary Policy Committee, led by Governor Murat Cetinkaya, decided to keep the one week repo rate constant at 17.75 percent, the Central Bank of the Republic of Turkey, or TCMB, said.

Economists had expected a raise in the rate to 18.75 percent.

The Lira declined to 4.9378 against the greenback, its lowest since July 12. At yesterday's close, the pair was worth 4.7375. If the Lira extends decline, 4.97 is possibly seen as its next downside target level.

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