Lira in recent days fell to a level of 4.92 Lira per dollar.
President Recep Tayyip Erdogan has threatened the financial sector, "sanctions" if he does not begin immediate action to support the falling of Turkish Lira.
Opposition newspaper Cumhuriyet presents another poll according to which those favouring Erdogan will be 43,5% while 22,2% will vote for Muharrem İnce. Alongside last week's rate hike, the central bank has taken a series of measures to ease forex liquidity.
While it is good to see the bank taking a step towards conventional policy, particularly one that appears to contradict the preferences of the president, ultimately, Turkey's interest rate decisions are becoming increasingly political - and the market's distrust of Erdogan outweighs its belief in the bank's policy makers. At 18:05 local time, it had strengthened to 4.5831 against the dollar from the May 25 close of 4.7052, but that still left it 18% weaker against the U.S. currency in the year to date.
The ailing Turkish lira (TRY) went on a charge on May 28 after Turkey's central bank announced it would return to the one-week repo rate as its main policy tool, and do away with its complex process of using four rates. Erdogan, a self-described "enemy of interest rates", wants to keep borrowing costs low, particularly ahead of looming elections.
The new policy will be operational from June 1, it added.
Serena Williams battles past Kristyna Pliskova to kick off comeback
Whatever happens over the next two weeks, Williams insists her family priorities have eased the expectations on her as a player. Nadal racked up his 80th win in Paris by seeing off Italian lucky loser Simone Bolelli 6-4, 6-3, 7-6 (11/9).
Sears Is Closing Another 72 Stores as the Company Clings to Life
The results from the year-ago quarter included a $492 million benefit related to the sale of Craftsman . This consisted of a 9.5 percent drop at Kmart stores and a 13.4 percent decline at Sears stores.
Canadian Foreign Minister Travels to U.S. for NAFTA Negotiations
Freeland said that was a major topic of the conversation with Lighthizer, and remains key to cracking a complex negotiation. Canada's foreign minister Chrystia Freeland is in Washington this week, meeting with U.S.
The lira hit 4.92 against the dollar on Wednesday before paring back some of its losses later this week after an emergency central bank rate hike.
The late liquidity window rate will be 300 basis points above the repo, it said.
Today, Turkey's deputy prime minister and central bank chief arrive in London for a two-day conference to shore up investor confidence in the country.
Economists had long criticized the central bank for employing a myriad of interest rates with little guidance over what the headline rate was.
Bankers at the Istanbul meeting said Simsek's comments focused on the government's achievements and plans, stressing fiscal discipline, tight monetary policy and the commitment to the market economy, similar to comments he made last week.