It took us a little to click because our shots werent falling," Lira
The bank is unlikely to be able to mount a sustained defence of the lira
using its foreign currency reserves; these totalled around $92 billion at the end of last year, but analysts' calculations suggest usable levels are around a third of that.
Conversely, Moody's expects that liquidity, longer-term debt maturities and foreign currency revenues will help offset effect of a weaker lira
The meeting has been called to plug further fall in the lira
The central bank of Turkey has called the meeting for Tuesday 28 January 2014 following heavy intervention on the currency markets which failed to stop a run on the lira
amongst pressure on a number of emerging markets.
Turkish Prime Minister Recep Tayyip Erdogan displays an old Turkish Lira
banknote at a news conference in Ankara in 2008
ISTANBUL, Jan 24 (KUNA) -- The Turkish lira
continued its severe drop down against both the US dollar and the euro on Friday as a result of the corruption and bribery scandal which hit the Turkish government last December.
A cashier exchanges 100 denomination Turkish lira
banknotes at a currency exchange in Istanbul (file).
Summary: The Turkish lira
hit a record low on Tuesday, but the central bank warned that it had a war chest of up to $40 billion to defend the currency amid turmoil for emerging economies.
Turkish Central Bank Governor Erdem Basci said on Tuesday he did not intend to hike interest rates to defend a sliding lira
, which hit record lows on concern about the outlook for U.
The announcement was made at the Samsung Fan Zone in Sandton City, South Africa where Lira
expressed her excitement at this appointment and also wished the remaining countries in the soccer tournament all the best in the lead up to the final match on Sunday.
has also released her live-in-concert DVD documentary