Comments hit the lira

Bloomberg

The dollar gained 0.5 percent and was trading at 1.5760 liras at 5:36 p.m. in Istanbul after gaining for a fifth-straight week last week. The IMKB-100 Index of stocks fell for the first day in four, losing 1.4 percent to 28,446.99. Bonds declined, with benchmark yields rising three basis points to 12.93 percent, according to ABN Amro Holding.

"Investors are concerned that the size of the IMF loan might be less-than-expected," said Levent Güven, head of currency trading at Turkish Economy Bank in Istanbul. "We might see some extra volatility in assets until the IMF deal is clarified." Turkey requires IMF support to cut the cost of borrowing and meet financing needs.