Turkish Lira Undervalued by 5% to 10%, Central Bank Chief Says
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Turkey’s lira is about 5 percent or 10 percent undervalued against a basket comprising the dollar and the euro, central bank Governor Erdem Basci said.
The currency gained after Basci made the comments in an interview in Ankara today with CNN Turk television and was trading at 2.1525 to the basket at 1:40 p.m., from about 2.1580 before the interview.