Markets

Turkish lira falls on Erdogan's criticism of central bank

Published February 25, 2015 Updated February 25, 2015 03:06pm

1 min

By Shoaib Ur Rehman

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ISTANBUL: The Turkish lira fell on Wednesday after President Tayyip Erdogan criticised the central bank's interest rate policy and said it was not suitable for Turkey's economy.

The lira weakened to 2.475, a low for the day, from 2.467 at 1400 GMT, making it one of the worst-performing currencies among emerging markets, after Erdogan said the quarter-point interest-rate reduction did not go far enough.

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