Turkish Lira plummeting, central bank plowing through cash trying to save it
The Central Bank of the Republic of Turkey (CBRT) has intervened in the foreign exchange market six times already today to prop up the value of the Turkish lira.
Over the course of those six auctions, the central bank has flooded the market with $1.4 billion in hard currency in order to boost the lira against the dollar – but it isn't having much luck.
Labels: Turkish economy
posted by Carl in Jerusalem @ 9:49 AM
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