Turkey has no target for floated lira-Dervis

- Central Banking staff
- 14 Apr 2001

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TURKEY - Turkish Economy Minister Kemal Dervis on Apr 14 said there is no target value for the country's lira currency, which has fallen over 40 percent against the dollar since its float in late February 2001.

"We are now in a floating currency regime, and neither the government nor the central bank has nor should have a target for the currency in mind," Dervis told a news conference while announcing the country's new economic plan.

That plan is aimed at replacing Turkey's $11.5 billion IMF pact

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