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Turkish State Banks Said to Sell FX Day After Lira's Freefall

TURKEY
  • Turkey's state-owned lenders sold dollars to help meet heightened demand for foreign currency on Wednesday, a day after the lira posted its second biggest daily slump in two decades, according to people with knowledge of the matter.
  • The amount sold by the lenders was not as high as it used to be when state banks were active in this trade until it came to an abrupt end in 2020 amid dwindling reserves, the people said.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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