Turkey to stick with floating lira

The governor of Turkey's central bank said Friday 12 May that the bank would maintain its floating currency system but was closely monitoring foreign currency market developments, the Anatolia news agency reported.

"The practice of currency floating, which is the precondition of inflation targeting, will be maintained," Durmus Yilmaz told Anatolia Friday. "But developments in foreign currency markets are being closely monitored."

Yilmaz was speaking about market volatility after the Turkish lir