Turkish lira hits 3-week high against US dollar

ANKARA

Turkish lira advanced to a 3-week high against the U.S. dollar on Thursday amid Fed's decision to keep interest rates unchanged.

Dollar started the day by losing ground against lira and the dollar/lira exchange rate decreased by 1 percent to under 3.73.

The exchange rate had hovered between 3.75 and 3.80 over the past two days and stood at 3.7710 as of 5 p.m. (1400GMT) Wednesday.

Analysts say the decline in the dollar index, which started after Fed decided to keep the bank's policy rate unchanged at 0.50-0.75 percent, may continue in the coming days and the dollar/lira exchange rate may fall further down to 3.65.