Berat Albayrak, Turkey's Treasury and Finance Minister, gestures as he talks during a conference in Istanbul, Friday, Aug. 10, 2018, in a bid to ease ...
Berat Albayrak, Turkey's Treasury and Finance Minister, gestures as he talks during a conference in Istanbul, Friday, Aug. 10, 2018, in a bid to ease investor concerns about Turkey's economic policy. Albayrak said the government will safeguard the independence of the central bank and outlined his ministry's new economic policy as the currency plunged, raising questions about the country's financial stability. (AP Photo/Mucahid Yapici)
A man shops in a market in Istanbul, Monday, Aug. 13, 2018. Turkey's central bank announced a series of measures on Monday to free up cash for banks a...
A man shops in a market in Istanbul, Monday, Aug. 13, 2018. Turkey's central bank announced a series of measures on Monday to free up cash for banks as the country grapples with a currency crisis. The Turkish lira has nosedived over the past week and tumbled another 7 percent on Monday as the central bank's measures failed to restore investor confidence. (AP Photo/Mucahid Yapici)
Turkey's President Recep Tayyip Erdogan, gestures as he delivers a speech to Turkish ambassadors at the Presidential Palace in Turkey, Monday, Aug. 13...
Turkey's President Recep Tayyip Erdogan, gestures as he delivers a speech to Turkish ambassadors at the Presidential Palace in Turkey, Monday, Aug. 13, 2018. Erdogan says his country is under an economic "siege" that has nothing to do with its economic indicators. He insisted that Turkey's economic dynamic remain strong and said the Turkish currency would soon settle "at the most reasonable level." (Pool Photo via AP)
ANKARA, Turkey (AP) — The Turkish currency has stabilized near record lows as investors look to a speech by the finance chief later in the day.
Turkey has been hit by a currency crisis that was triggered by concerns over President Recep Tayyip Erdogan's economic policies and a trade and diplomatic dispute with the United States, a NATO ally.
The lira was around 6.55 per dollar Tuesday, up 6 percent from the previous day, when the central bank freed up cash for banks. It remains not far from the record low of 7.23 per dollar hit Sunday.
The currency has nosedived over the past week, accelerating a months-long decline that has seen it drop 45 percent this year.
The state-run Anadolu Agency said the finance chief would address hundreds of foreign investors later Tuesday.
