The auctions were suspended for almost two weeks
- CBRT decides to suspend its 1-week repo auctions (9 May 2019)
It was mostly a bid to help stabilise the lira, along with other efforts that we have seen recently such as a 0.1% tax on some foreign currency transactions as well as a settlement delay for foreign currency purchases by individuals of more than $100,000.
That said, the lira is continuing to come under some light pressure after a brief recovery as USD/TRY still holds above 6.00 in trading since last week.
