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Turkey's central bank said Tuesday it was intervening to bolster the stricken lira by reducing its foreign-exchange reserve requirement ratios to inject $1.5 billion into the market.The lira began recovering against the dollar immediately after the bank's announcement.The lira, which has lost around 20 percent in value against the dollar over the last three months, had slumped to a new low Monday as political uncertainty in the country took its toll.Turkey's rating was lowered to junk status by Moody's and Standard & Poor's last year, and it is facing a similar move by Fitch later on this month.
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