Turkey Cuts Foreign Curency Deposit Rate
The rates applied to banks' one week maturity borrowings from the Central Bank have been reduced from 4 percent to 3.5 percent for USD and from 2 percent to 1.5 percent for EUR, effective from June 9, 2015.
6/8/2015 9:04:45 AM
The move was prompted by a 5 percent fall in lira to a new recod low of 2.79 lira against the dollar in response to the parlimentary elections results. The support for a ruling AKP party declined to 41 percent, from almost 50 percent in the previous general election four years ago.