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Oct 09, 2020 16:47 EEST
October 9 (SeeNews) - Turkey's central bank has increased by 150 basis points the interest rate for swap transactions in Turkish lira, local media reported on Friday.
The interest rate, used by the bank in its weekly currency swaps, was increased to 11.75% from 10.25%, Daily Sabah reported.
The increase reflects the rising cost of funding in the repo to swap market, the daily quoted a bank specialist as saying.
In September, the central bank raised its one-week repo rate to 10.25% from 8.25% over higher than expected inflation rate.
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