Turkey’s lira is at a record dollar-low
as the prospect of growing conflict in Syria continues to hit emerging market
currencies.
The dollar climbed 0.6 per cent to
TL2.0450, having touched a record TL2.0681.
The lira has lost 3 per cent this week, a
heavy bout of selling in currency terms.
Turkey’s central bank on Tuesday said it
would not raise its main interest rate again this year, following a half point
rise to 7.75 per cent earlier this month, in spite of inflation, which in July
was running at 8.8 per cent.
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