Turkey shifts currency to please its creditors
April 2, 1980
Ankara, Turkey
Turkey readjusted its lira against major world currencies Wednesday to appease Western creditors. The Central Bank devalued the lira by 5 percent against the US dollar, to which it is pegged, and by lesser amounts against other currencies. It revalued the lira upward against a few currencies, including the West German mark and the Swiss franc.