Tuesday, May 1, 2007

Turkish Lira, Bonds Extend Losses as Army Challenges Islamic Government

(Bloomberg) -- Turkey's lira fell 1 percent against the dollar, extending yesterday's losses, as the secular armed forces and the Islamic-rooted ruling party clashed over the country's next president.

Yields on lira-denominated government debt maturing in February 2009 rose 11 basis points to 19.25 percent. The lira was trading at 1.378 to the dollar at 10:20 a.m. in Istanbul. The currency fell 2.4 percent against the dollar yesterday.


Read more at Bloomberg Emerging Markets News

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