ECONOMY

Turkish lira rebounds

turkish-lira-rebounds

Turkey’s lira rebounded 1.5% on Monday and retreated from near an all-time low as locals took advantage of recent weakness to sell dollars, though concerns lingered over US relations and pending interest rate cuts.

The currency, among the worst emerging markets performers this year, firmed to 8.3 versus the dollar. Earlier in the day it weakened to 8.485, its 2021 low and close to its record of 8.58 reached in early November. [Reuters]