Turkey

Turkish Currency Falls to Record Low

Turkish Currency Falls to Record Low

The Turkish lira fell to a record low level early on Tuesday on signals of a tightening of US monetary policy which have hit emerging market currencies hard.

The lira plunged to 2.0095 to the dollar in initial trading, rallying later to 2.0028 from 1.9920 at the close on Monday when the central bank sold $350 million in defense of the lira.

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