Monday, July 25, 2011

Turkey Bank Moves to Stem Lira Losses, Cancels Dollar Buying - Bloomberg

"Turkey Bank Moves to Stem Lira Losses, Cancels Dollar Buying

By Selcuk Gokoluk and Ercan Ersoy - Jul 25, 2011 5:26 AM ET

Turkey’s central bank moved to stem a slump in the lira, suspending daily purchases of dollars and cutting the cost of long-term deposits in foreign exchange. The lira pared earlier losses. "

More:Turkey Bank Moves to Stem Lira Losses, Cancels Dollar Buying - Bloomberg