Turkey Explosions Batter Lira as Inaction on Rates Exposes Risks
Turkish Lira Falls Before Rate Decision
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The lira weakened to a record for a fifth day following two violent attacks in Turkey, extending a selloff after the central bank signaled it wasn’t ready to step up measures to defend the currency.
The lira fell as much as 1.7 percent to 2.9435 per dollar before trading at 2.9256 at 5:17 p.m. in Istanbul. Kurdish PKK militants killed eight soldiers in an explosion in the southeast, state-run TRT television reported, and a second explosion followed by gunfire was heard outside Dolmabahce Palace in central Istanbul.