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Day: December 25, 2014
December 252014
Turkish Lira Drops as Central Bank Refrains from Action
The Turkish lira fell today after yesterday’s decision of the nation’s central bank to keep its borrowing costs stable. Policy makers refrained from action even as inflation accelerated due the drop of the currency. The Central Bank of the Republic of Turkey kept all of its interest rates unchanged during yesterday’s meeting and said that “the tight monetary policy stance will be maintained”. The outlook for monetary tightening from the Federal Reserve drove […]
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December 252014
Ruble Gains for Fifth Day
The Russian ruble gained today amid speculations that the government forced domestic exporters to sell foreign currencies. The ruble gained 15 percent over the last five trading sessions. According to a report, Russia ordered companies to convert their overseas earnings into the local currency. It is an attempt to support the ruble that has been falling due to economic sanctions from the United States and the European Union as well as because of the drop […]
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