The Turkish lira pulled back on Tuesday from a record low of 7.24 a day earlier after the central bank pledged to provide liquidity in response to a meltdown which has unsettled global markets. The lira (TRYTOM=D3), which closed at 6.9 on Monday, has weakened 45 percent against the dollar this year, hit by worries over President Tayyip Erdogan’s calls for lower interest rates and worsening ties with the United States. The weakness of the Turkish currency has rippled through global markets, with its drop of as much as 18 percent on Friday hitting U.S. and European stocks …read more
Source:: Yahoo Finance
