The Turkish Lira Rises For The Third Day in Light of an Imminent Decision on Interest

The Turkish lira rose about 1%, to offset some of the recent losses it incurred for the third day in a row with growing expectations that the central bank will raise interest rates from 17% next week.

The lira was steady at 7.44 against the US dollar, rising from Wednesday’s close of 7.5120. The lira rose to 7.7840 on Monday as US bond yields soared.