Turkish lira appreciates after decrease in lending rates

ANKARA (A.A) - August 9, 2011 - Turkish lira has risen after the Central Bank cut its lending rate for deposits in USD and Euro to help boost foreign exchange liquidity. 
Earlier in the day, the Bank lowered the lending rate in USD to 4.5 percent from 5.5 percent and the rate in Euro to 5.5 percent from 6.5 percent
The Bank's decision had an immediate impact on markets and TL gained 0.9 percent to 1,7740 per USD. USD started the day at around 1.787 TL. Meanwhile, TL also gained against euro. Euro traded at 2.523 TL after starting the day at 2.545 TL.