Turkish lira extends gains against dollar after lending curbs

Shafaq News/ The Turkish lira strengthened 2.3% against the dollar early on Monday, extending gains from the end of last week after Turkey moved to restrict lira lending to many companies with more than $1 million in foreign currency cash.

The lira TRYTOM=D3 stood at 16.6005 in early trade, having closed at 16.99 against the U.S. currency on Friday, when it firmed as much 5% after the banking watchdog made the latest step to reverse a tumbling foreign-exchange rate.

Source: Reuters