Lira Surges as Central Bank Foresees No Need for Intervention
This article is for subscribers only.
The lira climbed to its strongest level in almost three months after central bank governor Erdem Basci said he foresaw no need to intervene and arrest the currency’s advance this year. Bonds gained for a fourth day.
The lira appreciated 0.8 percent to 1.7729 per dollar as of 5:03 p.m. in Istanbul, the highest since Nov. 8 on a closing basis. It has risen 6.6 percent since Dec. 31, lagging six emerging market currencies including the zloty, forint and real.