Initial reaction from the dollar following the Central Bank's interest rate decision

The Central Bank of the Republic of Turkey (TCMB) Monetary Policy Committee (PPK) has announced the final interest rate decision of the year.

In December, the TCMB cut the policy rate by 250 basis points, bringing it down to 47.5 percent. This marks the first interest rate cut in 22 months.

MARKET ACTIVITY FOLLOWING THE INTEREST RATE DECISION

Following the TCMB's interest rate decision, there was activity in the foreign exchange and gold markets. After the decision, the dollar is changing hands at 35.85 lira, the euro at 37.25 lira, and the British pound at 44.90 lira. Gram gold is being sold at 3 thousand 37 lira, while quarter gold is being sold at 4 thousand 941 lira.

WHAT WAS THE MARKET SITUATION BEFORE THE INTEREST RATE DECISION?

Prior to the Central Bank's interest rate decision, the dollar was trading at 35.81 lira, the euro at 37.26 lira, and the British pound at 44.89 lira.

At jewelers, gram gold was being sold at 3 thousand 25 lira, and quarter gold at 4 thousand 938 lira.

News Source: 12punto