16:12 - 24.08.2023

---

August 24, Fineko/abc.az. On August 24, the Central Bank of Turkiye unexpectedly raised the discount rate by 7.50 percentage points to 25%.

ABC.AZ reports that earlier it was assumed that the bank would raise the discount rate to 20%.

The discount rate was at 8.50% when the new administration entered into force.

Prior to the announcement of the central bank's decision, the dollar exchange rate against the Turkish lira was 27.2708 liras. After the decision was made, the exchange rate fell below the level of 27 liras and amounted to 26.6751 liras (as of 15:12). The Turkish lira grew by more than 2% against the US dollar.