USD/TRY Drops on Rate Hike

Note: This section contains information in English only.
Source: Dukascopy Bank SA
At mid-day GMT Thursday's trading hours, the USD/TRY currency exchange rate dropped 2.13% or 1645 base points. However, a couple of hours after the drop, the pair returned to fluctuated at the 7.6300 level. 

The drop was caused by the Central Bank of Turkey. The bank increased its One Week Repo Rate from 8.25% to 10.25%.
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