Turkish finance minister says lira swings not worrying

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A money changer counts Turkish lira banknotes at a currency exchange office in Ankara, Turkey September 27, 2021. REUTERS/Cagla Gurdogan

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ISTANBUL, Dec 29 (Reuters) - Turkey's Finance Minister Nureddin Nebati said on Wednesday that the current swings in the lira currency were not worrying and that it would return to normal levels.

The currency weakened for the third consecutive day on Wednesday, tumbling as much as 7% and eating further into the huge gains made the previous week, as worries persisted over soaring inflation and unorthodox monetary policy. read more

In an interview with broadcaster CNNTurk, Nebati also repeated that there were no direct or backdoor interventions when a new economic model was announced and the lira recorded a massive rebound.

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Reporting by Ezgi Erkoyun; Editing by Alison Williams

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