Turkish Lira Falls to Month-Low on Greek Debt, German Confidence
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The lira slumped to the weakest in more than a month as Euro-area finance ministers delayed a decision on financial aid to Greece while German investor confidence unexpectedly declined, damping demand for riskier assets.
The lira depreciated for a third day, declining 0.3 percent to 1.8068 per dollar at 6:52 p.m. in Istanbul, the lowest since Oct. 15. Yields on two-year debt closed unchanged at 6.38 percent following declines in the past six days to the least since at least 2005.