Türkiye banks sell about $ 8 billion in defense of the lira

Turkish banks sold about $ 8 billion to the mid -day to support the lira, after the currency fell by 11% following the arrest of the Mayor of Istanbul, Akram Imamoglu, according to people familiar with the case. People, who asked not to reveal their identity because of the sensitivity of the case, said that interference in the market after the decline in the Turkish lira took place by various banks. It was not possible to get an immediate remark from the Turkish central bank. At 12:45 p.m., the time of the lira is at about 38.8 against the dollar, low by 5.5%.