Fatih Erkan Doğan
January 12, 2017•Update: January 12, 2017
By
ANKARA
The U.S. dollar fell slightly against the Turkish lira on Thursday following the Turkish Central Bank’s announcement that it would not hold its usual weekly repo auction this week.
The dollar stood at 3.81 after the statement, down from 3.94 on Wednesday.
Analysts said the bank had succeeded in helping the lira by cutting the amount of lira circulating in Turkish markets. “The central bank’s move, which increases the cost of funding, is positive for the Turkish lira,” Enver Erkan, an economist at FX, said.
