Oct. 21, 2021, 7:11 a.m. EDT
The dollar surged against the Turkish lira on Thursday after a surprising large rate cut. The Central Bank of the Republic of Turkey cut interest rates to 16% from 18%, more than the 0.5 point to 1 point cut markets anticipated. The dollar (XTUP:USDTRY) climbed to 9.3095 lira from 9.2133 lira on Wednesday.
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