Turkish Lira Gains Against the Dollar After Governor Comments
ISTANBUL--The Turkish lira gained against the dollar Tuesday after central bank Governor Erdem Basci pledged to support the currency with higher foreign currency sales.
"We will sell at least $450 million in daily forex auctions until the end of December," Mr. Basci told reporters at its annual monetary and exchange rate policy conference in Ankara. The national lender will sell a minimum of $3 billion by the end of this year, Mr. Basci said. The central bank plans to sell at least $100 million in daily foreign currency auctions in January, he said.
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