Lira Gains First Time in 5 Days on Central Bank Inflation Pledge
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The lira advanced for the first time in five days to its highest level in three weeks after the Turkish central bank vowed new measures to more than halve the inflation rate over the next year.
The lira gained 0.7 percent to 1.7831 per dollar by 5:42 p.m. in Istanbul, the strongest since April 3. That took the currency’s appreciation this year to 6.1 percent. The yield on two-year benchmark debt dropped two basis points, or 0.02 percentage point, to 9.45 percent.