Summary
Turkey's central bank held its first repo auction for 18 months Friday and the lira continued to slide, as investors focused on inflation data due next week and comments by President Recep Tayyip Erdogan. At 11:09 GMT, the lira was trading at 4.62 per U.S. dollar, down 2.2 percent from 4.52 at Thursday's close.
Resuming repo funding for the first time since January 2017, the central bank injected 29 billion liras (around $6.3 billion) at a one-week repo auction Friday, with bids amounting to 56.77 billion liras.
At an emergency meeting last week it also hiked interest rates by 3 percentage points to support the lira, which has strengthened from a record low of 4.9290 hit on May 23 but is still down 17.6 percent against the dollar this year.
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