Turkish Central Bank Sells $6 Billion in Foreign Exchange to Defend Lira on May 22

GateNews
According to Guru Club, Turkish state banks sold approximately $6 billion in foreign exchange on May 22 to defend the lira following a court decision to remove opposition party leadership. About half of the intervention occurred after the court ruling, with the Turkish lira plunging to a record low of 45.6557 per dollar during intraday trading before stabilizing. The Istanbul Stock Exchange National 100 Index fell 6.1% to close at 13,163 points.
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