USD-TRY hit new record high in the latest acceleration above 29 mark, signaling resumption of larger uptrend which was paused for a narrow consolidation in past two weeks, APA-Economics reports citing Fxstreet.
Lira continues to trend lower despite recent U-turn in CBRT’s approach to the monetary policy, which was supposed to be one of key supportive factors for the Turkish currency, though current interest rate of 40% and significant gap in rates against other central banks, so far did not spark any stronger recovery of lira.
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