Lira Strengthens Most in a Month on Higher Forex Reserve Bets
By Selcuk Gokoluk - May 28, 2012 6:12 AM ET
The lira rallied the most in more than a month on bets the central bank will raise lenders’ reserve requirements to bolster its foreign-exchange holdings.
The lira appreciated 0.8 percent to 1.8351 per dollar at 12:32 P.m. in Istanbul, the biggest jump since April 24. Yields on two-year benchmark debt fell eight basis points, or 0.08 percentage point, to 9.45 percent, the lowest in almost a week.
More:Lira Strengthens Most in a Month on Higher Forex Reserve Bets - Bloomberg
