Turkey’s Lira Rises for a Third Day, Rebounds From Record Low After Sales

The Turkish lira strengthened for a third day after it depreciated to a record low of 1.9224 per dollar last week.

The lira rose 0.4 percent to 1.8833 per dollar at 8:49 a.m. in Istanbul after weakening 17.7 percent last year in the worst performance among emerging market currencies tracked by Bloomberg.

The central bank sold dollars directly on the market Dec. 30 after seeing "unhealthy price formations," it said in an e- mailed statement that day.

To contact the reporter on this story: Selcuk Gokoluk in Istanbul at sgokoluk@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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