Turkey’s Central Bank intervenes as USD rises to a two month-high
by Daily Sabah
ISTANBULDec 08, 2014 - 12:00 am GMT+3
by Daily Sabah
Dec 08, 2014 12:00 am
The U.S. dollar increased to 2.28 against the Turkish Lira on Monday, the highest it has been in two months.
Turkey's Central Bank increased its daily foreign exchange sales sub limit from $20 million to $40 million to prevent a further increase, which was revised on November 28, from $40 million to $20 millon.
The recent upward trend of the U.S. dollar came after Friday's strong employment signals of the U.S. economy, and the decrease of Italy's credit rating accompanied by recession expectations in the eurozone.
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