"With Brazil taking over the running in emerging market protests, the television cameras have turned their focus away from Turkey. But investors have not: Istanbul remains firmly in their sights – as does the possibility of further markets carnage (whether or not the demonstrators return to the streets).
On Friday, the markets were calm as bankers weighed the impact of the central bank’s latest attempt to shore up the lira. But nobody’s fooled – in a world of higher borrowing costs, Turkey is vulnerable.
The central bank sold $50m on Friday, in a seventh lira-support operation, taking the total sum involved to $350m."
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