ISTANBUL—Turkey’s lira was flat on Thursday after a historic slide to record lows this week that was triggered by President Tayyip Erdogan’s defence of interest rate cuts, despite widespread criticism of his policy direction.
The lira was worth 12.09 versus the dollar by 1044 GMT, after having firmed as much as 2 percent to 11.85 in early trade. It hit an all-time weakest level of 13.45 on Tuesday.
