Turkish delight as forex market and lira stabilise

MARKET NEWS

ISTANBUL – Following an 8% fall to fresh lows at the beginning of last week, the Turkish foreign exchange market and the lira stabilised with the resignation of the country’s communications minister on Tuesday (July 17).

The currency had been battered in the early part of the week as Enis Oksuz, the communications minister, clashed with economy minister Kermal Dervis, over an economic reform programme backed by the International Monetary Fund and World Bank. Following the Oksuz resigna

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