USD/TRY breaks below 6.5 on CBRT auction

The Turkish Central Bank (CBRT), which decided not to carry out any auction due to high volatility on Monday, announced that $1.5 billion with 2-week maturity was offered in today's swap auction and the TRY interest rate rose to 19.25% from 17.75 while the USD rate remained unchanged at 2%.

At the moment, the USD/TRY is trading at 6.4570, losing 6.25% on the day.