May 21, 2019 / 7:49 AM / 2 months ago

Turkey's cenbank lowers swap market lira rate to 24% from 25.5%

ISTANBUL, May 21 (Reuters) - The Turkish central bank said on Tuesday it set the lira interest rate in forex for lira swap transactions at 24%, down from 25.5% a day earlier.

The central bank had suspended one-week repo auctions earlier in May, a move that would gradually raise the average cost of funding to 25.5%, from its key policy rate of 24%. (Reporting by Daren Butler; Writing by Ali Kucukgocmen; Editing by Jonathan Spicer)

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