Turkish Treasury and Finance Minister Berat Albayrak speaks during a presentation to announce his economic policy in Istanbul on August 10, 2018. / AFP / Yasin AKGUL
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Finance Minister Berat Albayrak assured international investors on Thursday that Turkey would emerge stronger from its currency crisis, insisting that the country's banks were healthy and strong.In a conference call with thousands of investors and economists, Albayrak -- who is President Recep Tayyip Erdogan's son-in-law -- said Turkey fully understood and recognized all its domestic challenges but was dealing with what he described as a market anomaly.The Turkish lira hit a record low of 7.24 to the dollar this week, down 40 percent this year, as investors fretted over Erdogan's influence over monetary policy and a bitter dispute with the United States.Other Turkish markets were less buoyant: the main share index dipped 1.4 percent and the 10-year benchmark bond yield rose to 21.37 percent from 21.02 percent.The White House said on Wednesday that it would not remove steel tariffs on Turkey, appearing to give Ankara little incentive to work for the release of Andrew Brunson, a pastor on trial in Turkey on terrorism charges.Earlier Erdogan doubled tariffs on imports of U.S. passenger cars to 120 percent, alcoholic drinks to 140 percent and leaf tobacco to 60 percent.
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