Asia Unhedged | TRY decline driven by euro decline, central bank bond buying
Source: Bloomberg
Source: Bloomberg
Asia UnhedgedReal-time intel on what moves markets

TRY decline driven by euro decline, central bank bond buying

Aggressive bond buying by Turkey's central bank probably contributed to about a 2 lira decline in the exchange rate vs. the US dollar.

March 1, 2017 11:10 PM (UTC+8)

The Turkish lira declined against the dollar mostly because the Euro declined against the dollar, and partly because the Turkish unit declined against the euro. Using 1-minute interval data for the past 48 hours, the chart shows two distinct slopes for the TRY/EUR parity. Aggressive bond buyiing by Turkey’s central bank probably contributed to about a 2 lira decline in the exchange rate vs. the US dollar.

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