ANKARA, March 20 (Bernama-Sputnik/RIA Novosti) -- Turkey's Central Bank said on Thursday that it will initiate currency sales to support the rate of lira, reported Sputnik/RIA Novosti.
On Wednesday, the exchange rate of the US dollar against the Turkish lira surged by more than 10 per cent, exceeding 41 liras for the first time. The main index of the Istanbul stock exchange BIST 100 dropped by 6.87 per cent at the opening amid reports of the detention of opposition mayor of Istanbul, Ekrem Imamoglu.
"In order to ensure the healthy functioning of the foreign exchange market, prevent possible volatility in exchange rates and balance foreign exchange liquidity, foreign exchange sales transactions with settlements in Turkish lira will be initiated at the Central Bank of Turkey," the regulator wrote on X.
--BERNAMA-SPUTNIK/RIA NOVOSTI
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