Lira Rises to Month-High as Trade Deficit Falls for Eighth Month
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The lira appreciated for a fifth day to the strongest in more than a month after Turkey’s trade deficit declined for an eighth consecutive month, signaling a lower current-account gap. Bonds rose.
The currency gained 0.5 percent to 1.7933 per dollar at 5:06 p.m. in Istanbul, the highest on an intraday basis since June 21. Yields on two-year benchmark bonds fell 15 basis points, or 0.15 percentage point, to 7.62 percent, the lowest since January 2011.