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ISTANBUL, June 27 (Reuters) - Turkey's lira was mostly flat on Tuesday, after touching a new record low overnight, while bankers said the central bank's net reserves had marked their largest rise on record last week as it sto...
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Turkey's central bank took fresh steps on Sunday in line with its goals to increase functionality of market mechanisms, after it hiked rates to 15% from 8.5% this week.
ISTANBUL (Reuters) -Turkey's lira weakened as much as 3.3% to a record low on Friday, extending losses a day after the central bank's large rate hike failed to assure markets that President Tayyip Erdogan was abandoning his long-held unorthodox policies.
Any inflows of foreign funds to Turkey should be used to replenish central bank reserves, not to strengthen the lira, a top member of leading business association TUSIAD said on Friday.
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The Turkish central bank's net forex reserves rose some $2.5 billion from a historic low to stand at $-3.17 billion as of June 9, data showed on Thursday, as Ankara loosened its grip on the forex market and the lira weakened sharply last week.