USD/TRY surpasses 2.92 as Turkey's Central Bank says it will wait for FED meeting on interest hikes

The US dollar has reached the historical peak of 2.92 against the Turkish lira as the Central Bank of the Republic of Turkey has said it will wait for today's FED meeting on interest hikes.

Central Bank officials announced the decision in a meeting in Ankara with economists from the bank saying, "The Central Bank, in an environment where there is political uncertainty, will wait for the FED's decision before taking action."

Following this statement, the USD/TRY parity has broken a new record surpassing 2.92. The euro has also been affected by the U.S. dollar parity and climbed to 3.2156 against Turkish lira.