Turkey's lira rallies late after Erdogan bolsters currency

Nation's bank group says about $1bn sold in markets

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Turkish President Tayyip Erdogan addresses the media after a cabinet meeting in Ankara on Dec. 20. (Photo by Murat Cetinmuhurdar/PPO/Handout via Reuters) 

ANKARA (Reuters) -- Turkey's lira ended the session up over 20% on Monday after President Tayyip Erdogan introduced a series of steps that he said will ease the burden of the weakened currency on Turks, while vowing to press on with a low-rates policy that led to the lira's slide in the first place.

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