Lira Falls First Day in Seven After S&P Cuts Outlook to Stable
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The lira weakened for the first time in seven days as Standard & Poor’s said Turkey is the “most vulnerable” in eastern Europe to capital outflows a day after it cut the country’s credit ratings outlook.
The lira depreciated 0.5 percent to 1.7636 per dollar at 6:18 p.m. in Istanbul, snapping its longest streak of gains since October. The yield on two-year benchmark debt rose two basis points, or 0.02 percentage point, to 9.34 percent.