Markets

Turkish lira firms to below 2.9 against dollar

Published June 7, 2016 Updated June 7, 2016 08:21am

1 min

By Imad Uddin

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ISTANBUL: The Turkish lira firmed to below 2.9 against the dollar on Tuesday, its strongest level in a month, on expectations that the U.S. Federal Reserve will not raise interest rates in the near term, dealers said.

The lira stood at 2.8985 at 0815 GMT, firming from 2.9058 in early trade and after weakening as far as 2.91 during the morning after a car bomb blast targeted a police bus in Istanbul, killing 11 people.

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