The Turkish Central Bank pumps more than two billion dollars into the local market to save the lira from devaluing

by **RamblerNash** Tue Dec 14, 2021 9:24 pm

Tuesday 14 December 2021 12:21

Istanbul / NINA / - The Turkish Central Bank pumped more than two billion dollars to stop the bleeding of the lira, in the fourth intervention in the past two weeks.

In a statement, the Central Bank stated that it had intervened to stop the deterioration of the exchange rate of the lira against the US dollar, after the Turkish lira hit a record low against the dollar on Monday afternoon, as the exchange of one dollar became 148 liras.

According to the accounts of bankers who analyze official data, the Central Bank sold two billion and 150 million dollars, which contributed to strengthening the value of the lira to reach 138 against one dollar after pumping this amount directly into the local market. To add this batch of the dollar to three previous payments during the past days, with a total value of two billion and 500 million dollars.

The Turkish lira was affected by concerns about a new risky economic policy pursued by Turkish President Recep Tayyip Erdogan, and the prospects of another interest rate cut, which prompted the Central Bank to intervene again./End

https://ninanews.com/Website/News/Details?key=944765