Turkish lira advanced as much as 15% on Thursday after President Tayyip Erdogan laid out series of step to stabilize the currency.
Lira opened today on a lower note then advancing to a high of 11.0935 per dollar in early trade. Later, the currency reached 13.92 at 0856 GMT, according to Reuters.
In a speech on Monday, Erdogen laid out several steps that would ease the burden of a weakened currency and encourage Turkish citizen to hold lira savings rather than dollars.
The government also promised to guarantee deposits in lira, sending the currency advance by 25% marking a record intraday rally.
