Turkish Lira Sinks, Stocks Gain as Investors Bet on Policy Shift
- Erdogan said to meet with ex-minister Mehmet Simsek on Monday
- State support for lira appears to be getting scaled back
The lira extended its decline to a sixth day.
Photographer: Moe Zoyari/BloombergThis article is for subscribers only.
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Turkey’s currency weakened to a record low Wednesday amid concerns about external financing needs, a day after stocks rallied as investors bet President Recep Tayyip Erdogan’s new cabinet could steer the country toward more orthodox economic policies.