Turkish Lira appreciates due to central bank's intervention

Source: Bloomberg
© Scanpix/Reuters
The Turkish Lira rebounded after the central bank engaged in a monetary tightening, where it sold $500 million in an auction. The currency jumped 0.8% to 1.9527 per U.S. Dollar so far today. The central bank already sold $2.9 billion since June 11 in order to curb depreciation, but added that the intervention is temporary. The Lira has lost 8.7% of its value so far this year.
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Mon, 08 Jul 2013 10:33:04 GMT

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