ISTANBUL (Reuters) - Turkey’s central bank said on Wednesday its Monetary Policy Committee met to discuss recent developments.
The country’s lira had tumbled 5 percent against the dollar on Wednesday, accelerating a selloff that has seen the currency lose a fifth of its value this year as investors fret over President Tayyip Erdogan’s influence on monetary policy.
The central bank’s announcement boosted the lira. It rose to as high as 4.704 from 4.845 beforehand.
Reporting by David Dolan; Writing by Ali Kucukgocmen; editing by John Stonestreet