(AFP/File, Mustafa Ozer)
Reuters – The Turkish lira firmed on Friday, ending a downward week higher on expectations that the United States would continue to unwind its stimulus programme at only a steady pace and not accelerate it.
The lira firmed to 2.2065 against the dollar by 1550 GMT from 2.2215 late on Thursday.
The Istanbul share index rose 1.25% to 62,553.32 points, outperforming the wider emerging markets index, which was up 0.39%.
The 10-year benchmark bond yield fell to 10.51% from 10.59% on Thursday.
The Federal Reserve’s tapering – or cutting back on stimulus – has hit emerging markets such as Turkey because of its impact on global money flows.
