Turkish lira devaluates following resolution adopted by the Council of Europe
In order to prevent devaluation of lira the Central Bank of Turkey has increased refinancing interest rate.
Referring to the Turkish news agency Doğan, Ermenihaber reports that upon the decision of the Central Bank repo rate has increased from 7.5 percent up to 8 percent.
After the statement made by the Central Bank the exchange rate of one dollar has decreased by 3 piastres making up 3.37 liras. However in the same day, when a decision was made by the Council of Europe to suspend Turkey-EU talks for membership, the Turkish lira decreased again with one dollar making up 3.47 liras.
Euro has increased in the same day making up 3.66 liras.