ISTANBUL: Turkish lira firmed and stocks gained on Friday as corporates' demand for forex decreased, ending a period of aggressive dollar purchases due to political uncertainties, ahead of a central bank meeting on Tuesday.
Turkey's central bank is expected to keep its key interest rates on hold after a dramatic hike in a emergency policy meeting on Jan. 29 called to halt the sharp slide in the lira.
The lira traded at 2.1820 to the dollar, from 2.1968 late on Thursday.
It touched a record low against the dollar at 2.39 on Jan. 27.
The main Istanbul share index rose 1.75 percent to 64,882.91 points, broadly in line with the wider emerging markets index, which rose 1.18 percent.
The yield on the 10-year benchmark bond fell to 10.10 percent from 10.17 at Thursday's close.
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