CBRT announces that it will restart 1-week repo auctions

Author: Justin Low | Category: Central Banks

The auctions were suspended for almost two weeks

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.

USD/TRY 21-05
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