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January 27, 2014 AT 7:13 AM
The Turkish lira rebounded in midmorning action on Monday, after the country's central bank said it will hold an extraordinary policy meeting on Tuesday to evaluate the recent slide in the currency. According to FactSet data, the move was widely interpreted as a signal that Ankara will raise rates, sending the lira to just over $0.43 cents after trading as low as 41.85 cents earlier in the day. The central bank said in a statement the decision would be published at midnight local time.