Turkish State Banks Resume Supporting Lira as Rout Deepens
- Banks spent around $1 billion so far on Monday, traders say
- Currency losses deepened after June interest-rate decision
Customers at a currency exchange bureau in Istanbul.
Photographer: Moe Zoyari/BloombergThis article is for subscribers only.
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Turkey’s state-run banks re-entered the foreign-currency market on Monday, selling as much as $1 billion by midday to prop up the lira, according to traders.