CBRT Announced Its July Interest Rate Decision, Here Is The Reaction Of The Dollar!
TL;DR The CBRT increased interest rates by 250 basis points to 17.5% in July, and the US Dollar initially responded positively to the news. The USD/TRY exchange rate rose from 7.22 to 7.25, an increase of 0.43%.
The Central Bank of Türkiye Republic (CBRT) announced its interest rate decision for July.
The CBRT Monetary Policy Committee increased the interest rates to 17.5% with a 250 basis point increase in July.
In the previous meeting, it was stated that the low interest policy would be abandoned and interest rates would be increased, and the interest rates were increased by 650 basis points to 15%.
The First Response of the Dollar to the Interest Rate Decision