Lira Weakens to Lowest in Almost 7 Weeks on Flat Current-Account
By Selcuk Gokoluk - Mar 12, 2012 12:19 PM ET
The lira retreated for a second day, heading for its lowest level in almost seven weeks, after current-account deficit for January remained unchanged over a year ago, missing estimates.
The lira depreciated 0.6 percent to 1.7977 per dollar as of 5:01 p.m. in Istanbul, the weakest level since Jan. 25 on a closing basis, paring year-to-date gains to 5.2 percent. Yields (BENCH) on the two-year benchmark debt climbed 14 basis points, or 0.14 percentage point, to 9.32 percent, according to a Turk Ekonomi Bankasi AS (TEBNK) index of the securities showed.
More:Lira Weakens to Lowest in Almost 7 Weeks on Flat Current-Account - Bloomberg
