Article 3WXGT Turkish lira recovers as finance chief bids to calm investors

Turkish lira recovers as finance chief bids to calm investors

by
Julia Kollewe
from Economics | The Guardian on (#3WXGT)

Currency rises from record low against US dollar but investors remain anxious at lack of interest rate rise

Turkey's lira continued its recovery on Thursday, ahead of a crucial conference call between the country's finance minister and international investors.

It rose 2.5% in early trading, with one dollar buying 5.8 lira. A diplomatic spat with the US helped send the lira into a tailspin last week and it hit a record low of 7.2 to the dollar on Monday, sending tremors through emerging markets. However, the lira remains about 20% below where it was a month ago.

Related: Turkish financial crisis: Lira recovers as Ankara tries to calm markets - live updates

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