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TRY: State Lenders Sell Over $500m to to Support Lira

TRY
  • According to Bloomberg, Turkish state lenders sold dollars to support the lira as the currency’s gradual decline continued ahead of tomorrow's central bank rate decision. 
  • "State-owned lenders sold over $500 million on Monday to meet local demand, according to traders who asked not to be identified because they are not authorized to speak publicly." (BBG)
  • USD/TRY's gradual uptrend has largely been uninterrupted this year, with the pair recording fresh record highs in most sessions over the past month.
  • Our preview for tomorrow's CBRT meeting, with sell-side analyst views, can be found here.  

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