The Turkish lira advanced further against its US counterpart during New York trading on Tuesday. The lira climbed to a 4-day high of 1.6589 versus the greenback by about 1:20 pm ET, which may be compared to Monday's New York session close of 1.6862. Currently, the Turkish currency is trading at 1.6608 versus the greenback.

Turkey's Gross Domestic Product or GDP at constant prices fell 6.2% year-on-year in the fourth quarter, reversing from a revised 1.2% rise in the third quarter. Economists expected GDP to fall 5.4% in the fourth quarter. At current prices, the GDP growth decreased to 5.7% in the fourth quarter from 13.2% in the third quarter.

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