The Central Bank of the Republic of Turkey announced its interest rate decision after its meeting today. The USD/TL graph, which started to rise yesterday, drew a sharp upward curve after the interest rate decision. The dollar, which closed yesterday at the level of 8.6537, had an increase of 0.30 compared to the previous day. After the interest rate decision, the dollar is actively trading at 8.7592 levels. Here are the developments in the markets after the CBRT interest rate decision.
The Central Bank of the Republic of Turkey (CBRT) announced its September interest rate decision. Accordingly, the policy rate was reduced by 100 basis points to 18%.
MPC Decision dated September 23, 2021: The 1-week repo auction rate was reduced by 100 basis points. pic.twitter.com/jZSPUfEZ09
— Central Bank (@Central_Bank) September 23, 2021
Although it was predicted that the interest rate decision would be kept constant at 19%, the markets reacted sharply after this decision of the CBRT, and the dollar rose to the level of 8,7592 TL. Experts do not think that the decision will have a direct impact on cryptocurrencies. With the increase in the dollar, the TL value of cryptocurrencies is also affected, so an increase in TL will be seen in cryptocurrencies.