Lira Gains After Bank Withholds Low-Rate Lending for Second Day
By Benjamin Harvey - Mar 23, 2012 12:32 PM ET
The lira strengthened for a third day after the central bank did not lend at its lowest interest rate for a second day, tightening liquidity to stem the currency’s weakness.
The lira appreciated 0.4 percent to 1.8012 per dollar at 5:15 p.m. in Istanbul. Yields (BENCH) on the two-year benchmark bonds were unchanged at 9.67 percent after rising to as high as 9.78 percent in intraday trading. On the week, the lira is up 0.4 percent and yields have increased 35 basis points, or 0.35 percentage point.
More:Lira Gains After Bank Withholds Low-Rate Lending for Second Day - Bloomberg
