An emloyee holds a wad of 200 Turkish lira banknotes in a currency exchange in Istanbul, Turkey. (Photographer: Kostas Tsironis/Bloomberg)

Lira Falls as Central Bank Removes Pledge for Further Tightening

(Bloomberg) -- The Turkish lira tumbled after the central bank removed language in the statement accompanying its rates decision on Thursday that pledged further monetary tightening if needed.

The currency fell as much as 1.5 percent to 5.9637 against the dollar, the lowest level since mid October. The policy maker held its one-week repo rate unchanged at 24 percent, as expected.

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