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Turkish lira slides as central bank help falls short

Written by Bobby

The Turkish lira has lost around 20 percent in value against the dollar over the last three monthsTurkey’s central bank on Tuesday relaxed foreign exchange rules to bolster the lira but the move, shrugged off by analysts, did little to stem the stricken currency’s downturn. The bank raced to stop the currency’s slide after political instability and security fears in the country following a bloody 2016 drove it to a record low on Monday. The lira recovered slightly against the dollar after the bank’s announcement.

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