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Lira Heads for Biggest Monthly Decline This Year

For a fifth day the Turkish Lira extended its losses.

For a fifth day the Turkish Lira extended its losses.

Photographer: Kerem Uzel/Bloomberg
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The Turkish lira extended losses to a fifth day, set for its worst month this year, as traders speculated official efforts to shore up the currency aren’t sufficient.

The currency dropped 0.8% to 8.2560 per dollar as of 11:41 a.m. in Istanbul, bringing its retreat this year to 28%.