Markets

Turkey's lira firms vs dollar as central bank rules out early rate cut

Published February 3, 2015 Updated February 3, 2015 09:19pm

1 min

By Shoaib Ur Rehman

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ISTANBUL: Turkish lira firmed to below 2.4 against the dollar on Tuesday, extending gains after the central bank ruled out holding an interim policy meeting where it was widely expected to trim interest rates.

Lira has gained to 2.3993 against the dollar compared with 2.4330 earlier today and a record low of 2.4483 hit last Friday. By 1404 GMT, it traded at 2.4010.

Higher than expected January inflation figures have prompted the central bank postpone assessing rates at a regular meeting scheduled on Feb. 24.

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