Turkish central bank again intervenes to defend hobbled lira – Egypt Independent


ISTANBUL, Dec 10 (Reuters) – The Turkish Central Bank said on Friday it was directly intervening in the foreign exchange market, selling dollars due to “unhealthy price formations” in exchange rates, after the lira weakened to near its record low against the dollar.

At 1057 GMT, the lira stood at 13.8295 versus the U.S. currency, virtually unchanged from Thursday’s close. It had weakened as far as 13.95 in midday trade, close to its all time low of 14.00 hit last week.

Reporting by Daren Butler Editing by Jonathan Spicer



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