Lira Jumps as Citigroup Bets World’s Worst Currency Will Steady
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The lira surged in Istanbul as banks including Citigroup Inc. bet the central bank may succeed in halting the biggest decline among emerging market currencies this year.
The lira gained 1.6 percent to 1.7570 per dollar at 5:05 p.m. in Istanbul, the biggest increase in two weeks, making it the best performer today among more than 20 emerging-market currencies tracked by Bloomberg.