Turkish central bank sold $687 million in Dec. 10 market intervention

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Turkey’s central bank said on Friday it sold $687 million during its direct market intervention on Dec. 10 to support the ailing lira, bringing to a total $2.035 billion the value of its first three announced interventions this month, Reuters reported.

The lira was 0.6 percent weaker at 13.3 against the dollar at 0934 GMT, bringing its loses this year to 44 percent on the back of concerns about surging inflation and orthodox monetary policy.

In total the central bank announced direct intervention on five occasions this month.

 

 

 

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