Markets
Turkish lira claws back some losses after two-week slide
- In the previous session it hit 7.7840, the weakest since Dec. 17, and has tumbled for more than two weeks.
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ISTANBUL: The Turkish lira recovered 0.8% against the dollar on Tuesday after hitting its weakest since mid-December in the previous session, in a slump that has raised expectations the central bank could lift interest rates from 17% next week.
The lira strengthened to as far as 7.68 against the greenback at 0608 GMT, from a close of 7.7440 Monday. In the previous session it hit 7.7840, the weakest since Dec. 17, and has tumbled for more than two weeks.