Monday, September 26, 2016

Turkish markets, lira seeking recovery after Moody’s rating cut - FINANCE

Turkish markets, lira seeking recovery after Moody’s rating cut

ANKARA/ISTANBUL

Turkey’s markets and currency were seeking recovery after shares tumbled 4 percent and bonds and the Turkish Lira weakened sharply on Sept. 26, the first trading day after Moody’s cut its credit rating to “junk,” raising risks of an outflow of foreign funds and a squeeze on external borrowing.

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