Turkish lira makes gains on renewed optimism
After hitting a series of record lows, Turkey’s currency rebounded more 7% this week as investors expect sharp policy reversals by the nation’s newly appointed economy team.
ISTANBUL — Investors are placing new faith in the fresh faces appointed to Turkey’s economy team this week, sending the nation’s markets soaring on expectations of rapid policy reversals.
Turkey’s lira rebounded more than 7% since hitting a record low of 8.58 per dollar Friday, scaling back steep losses that placed it among the world’s worst performing currencies in 2020.
