Turk cbank calms mkts, govt pledges action

Turkey's central bank stabilised markets on Feb 27, 2001 and the government pledged to stand firm and fill vital economic posts swiftly in its fight to rebuild its shattered economic policy. The central bank offered cash at low interest rates on the interbank exchange to meet bank cash demand and ease pressure on Turkey's newly floated lira. The central bank fixed its dollar bid/offer for the lira at 906,164/910,535, a depreciation of some 24 percent since the float, but up from losses of 29-

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