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Turkish central bank announced on Tuesday, raising its benchmark interest rate by 75 points in an attempt to support the lira, which lost a quarter of its value against the dollar over the past year.
The monetary policy committee of the bank to raise the interest rate from 8.5 to 9.25 percent, the second increase since November last year.
The Turkish lira has lost up to ten percent of its value against the dollar since the beginning of this year, after a decline in the double digits in 2016.
He was adviser to a Turkish President Recep Tayyip Erdogan said that the Central will take action in the face of the weakness of the lira will continue to do so, though he has a "powerful weapon" is interest rates.
The Turkish currency accelerated their decline since the parliament began to discuss constitutional reform project aims to strengthen the powers of the president, which raises tension in the markets.
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