The Turkish Lira is Falling Back Against The Dollar

The Turkish lira fell 1.7 percent early on Wednesday, continuing to offset big gains made the previous week, as investors remained concerned about the country’s monetary policy outlook.

The lira fell to 12.02 to the dollar by 0615 GMT from 11.8 at the close on Tuesday.

Although it rose more than 50 percent last week after state-backed market interventions, the lira has lost 38 percent of its value this year.