shadow

Turkey shifts currency to please its creditors

Turkey readjusted its lira against major world currencies Wednesday to appease Western creditors. The Central Bank devalued the lira by 5 percent against the US dollar, to which it is pegged, and by lesser amounts against other currencies. It revalued the lira upward against a few currencies, including the West German mark and the Swiss franc.

of 5 stories this month > Get unlimited stories
You've read 5 of 5 free stories

Only $1 for your first month.

Get unlimited Monitor journalism.