CCY - CCY Delayed Price. Currency in TRY
-0.0008 (-0.01%)
At close: 10:25PM GMT
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Previous Close6.075
Day's Range6.038 - 6.118
52 Week Range4.4816 - 7.9285
  • MarketWatch2 months ago

    Turkish lira jumps as Pompeo says Pastor Brunson could be released this month

    The Turkish lira jumped versus the U.S. dollar on Monday after Secretary of State Mike Pompeo told reporters that Pastor Andrew Brunson, who has been detained in Turkey, could be released this month. He is next scheduled to appear in court on Oct. 12. Brunson's detention on the grounds of terrorism charges created a diplomatic spat between the U.S. and Turkey. The pastor's story coincided with other issues that put a strain on the two allied countries' relationship, such as the dramatic sell-off of the Turkish lira earlier in the summer and U.S. import tariffs. The U.S. dollar last bought 6.0676 lira , a one-month low, compared with 6.2923 late Friday in New York. The lira also strengthened against the euro , its other major rival, which fell 3.7% to buy 7.1200 lira.

  • MarketWatch2 months ago

    Turkish lira rallies after central bank lifts rates

    The Turkish lira rallies sharply on Thursday after the Central Bank of the Republic of Turkey raised its one-week repo rate by 6 .25 percentage points to 24% from 17.75%. Market expectations for the policy update had been wide-ranging with no consensus. Still, Thursday's rate increase was was the higher end of any predictions for a rate raise. The CBRT cited "a more significant rebalancing trend in the economic activity," in its reasoning, adding that "external demand maintains its strength, while slowdown in domestic demand accelerates." The inflation outlook was also pointing at risks of price instability, the bank said in a statement, and "accordingly, the Committee has decided to implement a strong monetary tightening to support price stability." Turkish CPI last stood at 17.9% on an annualized basis in August. The CBRT has been closely watched since Turkey's currency crisis unfolded over the course of the summer, as market participants believe aggressive interest rate hikes could be one way out. However, the CBRT has been under fire from President Recep Tayyip Erodgan, who has been vehemently against higher rates. Earlier Thursday, Erdogan banned domestic sales and rental transactions in foreign currencies. The lira rallied versus its main rivals, the U.S. dollar and the euro, in response to the rate hike. One dollar last bought 6.1711 lira , down 2.7%, while one euro fetched 7.1806 lira , also down 2.7%.

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