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Turkey Rolls Out Economic Rescue Plan, Reversing Lira Spiral
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ISTANBUL—Turkey’s currency mounted a dramatic, partial reversal from a monthslong collapse Tuesday after President Recep Tayyip Erdogan announced a rescue plan to encourage Turks to put their money back into the lira.
In a televised speech late on Monday, Mr. Erdogan said the government will guarantee returns on lira deposits at a rate similar to those on foreign currency, making up for any further depreciation in the lira. The Finance Ministry released details of the policy on Tuesday.
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