Turkish Central Bank Says Sells Dollars, After Lira Plunge Low

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The Turkish Central Bank said on Wednesday it was intervening in the foreign exchange market, selling dollars due to “unhealthy price formations” after the lira plunged to a fresh record low against the U.S. currency overnight.

At 0915 GMT, the lira stood at 13.53 to the dollar, still 0.8% weaker on the day. It had weakened more than 3% to 13.87 earlier, near its overnight record low of 14.0.

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