Following the U.S. Federal Reserve's (Fed) decision to keep the rates steady, the Turkish lira gained value against the U.S. dollar.
The TL, which was 3.0037 before the decision, remained in the 2.98-2.99 band throughout Friday. The TL had dropped as low as 3.0691 the day before. Friday's figures were the highest TL value since Sept. 9.
Meanwhile, Istanbul Stock Exchange (BIST 100) closed the day 1.33 percent higher at 74,149.46.
The Fed decision is expected to spur the Turkish Central Bank to keep the rates steady, according to an Anadolu News Agency poll of economists. A panel of 16 economists forecast that the central bank would again hold rates at its policy meeting on Sept. 22 as it did at its last meeting on Aug. 18. The one-week repo rate, the rate at which the Central Bank makes one-week loans to lenders, is expected to remain at 7.5 percent. The overnight lending rate is expected to remain at 10.75 percent and the overnight borrowing rate at 7.25 percent.
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