Turkey Goes After More Dollars With Cheap Loans to Exporters
- Central bank cuts cost, extends duration of rediscount credits
- Lira has weakened, reserves are under pressure with low rates
Exchange rate information inside the Grand Bazaar in Istanbul.
Photographer: Moe Zoyari/BloombergThis article is for subscribers only.
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Turkey is making another effort to arrest a precipitous decline in its currency by dangling cheaper and longer lira loans to exporters if they commit to selling more of their foreign income and avoid driving up demand for dollars.