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Turkish lira caps historic week with big lift from Erdogan government

Reuters - Turkey's lira closed out its strongest week on record on Friday, spiking more than 50% with the support of billions of dollars of state-backed market interventions and a promise t

Turkey’s lira closed out its strongest week on record on Friday, spiking more than 50 per cent with the support of billions of dollars of state-backed market interventions and a promise that the government would cover FX losses on certain deposits.

After four red-hot days, the lira cools 3% to 11.8 versus the US dollar

Turkey's lira was on track for its strongest week on record on Friday, having spiked more than 50% with the support of billions of dollars of state-backed market interventions and a promise that the government would cover FX losses on certain deposits

By Nevzat Devranoglu and Jonathan Spicer

ANKARA — Turkey’s lira closed out its strongest week on record on Friday, spiking more than 50% with the support of billions of dollars of state-backed market…

By Nevzat Devranoglu and Jonathan Spicer

The peso, overseas bonds and the country’s main stock gauge fell the most in months.

NDIS budget blowout takes toll on mid-year economic outlook, New Pfizer Covid pill not as effective as once hoped, global markets take another toll following heightened inflation concerns, and MORE.