Off the wire
• 10 Yemeni soldiers killed in two suicide attacks  • South China Sea issue should be negotiated between claimant countries: Cambodia expert  • Aussie-listed drone company soars on investor update  • Israeli forces injure five Palestinians in clashes following house demolition  • Central bank injects liquidity into market  • South China Sea arbitral tribunal loses its own face by lack of political wisdom: Indian expert  • News Analysis: Achieving peace in Afghanistan through talks requires more time than first expected  • Spotlight: Promotion of inter-connectivity for new Asia-Europe cooperation  • 103 senior military officers detained in Turkey's coup attempt probe  • China vows investment, financing reform  
You are here: 　 Home

Turkish lira rises against U.S. dollar after huge drop due to coup bid

Xinhua, July 18, 2016 Adjust font size:

The Turkish lira rose against the U.S. dollar on Monday after a huge drop following Friday night's coup attempt against President Recep Tayyip Erdogan.

The lira was trading at 2.88 to the U.S. dollar, a gain in value of more than 3 percent on the day, according to data on the Turkish Central Bank's website.

During the coup attempt, the lira plunged 4.99 percent to trade at a historic low of 3.04 to the greenback.

The Istanbul stock exchange, which was not open when the coup took place, fell 2.3 percent to 80,756 points.

The Turkish Central Bank announced on Sunday a raft of measures to minimize the adverse effects of the failed coup attempt in Turkey, including the provision of necessary liquidity to banks "without limits."

"Banks will be allowed to place foreign exchange deposits as collateral without limits for necessary Turkish Lira liquidity," the central bank said in a statement.

It added that the current foreign exchange deposit limit of around 50 billion U.S. dollars may be increased. Endit