Turkish Current-Account Gap Narrows More Than Forecast on Lira

Turkey’s current-account gap in March narrowed to almost a 10th of the deficit a year earlier, as accelerated declines in the lira and weak consumer demand continued to curb imports.

The country’s current account -- the broadest measure of trade and investment -- recorded a deficit of $590 million, the central bank said on Monday. The median of 12 forecasts in a Bloomberg survey was for a gap of $1 billion. The lira dropped 4.2 percent against the dollar in March, making it the worst-performing currency in emerging markets after the Argentine peso.