The Turkish lira continued to climb against the US dollar on Thursday, hitting its highest level since early April, thanks to a melting of ice in relations with the United States and a months-long trend among major central banks to ease monetary policy.
By 15:10 GMT, the lira stood at 5.4540 against the dollar, up 0.7% from Wednesday's close of 5.4955.
The lira has risen in seven of the past 10 trading sessions, and has gained more than 11% since early May when it fell to its weakest level this year.
The Turkish currency has risen as the Federal Reserve is prepared to cut interest rates in recent months, putting pressure on the dollar.
The lira remains 3.5% below its level at the start of the year after losing about 30% of its value in the currency crisis last year, which led to the recession of the country's economy.
It has emerged as the strongest currency among its emerging market counterparts since the start of the third quarter, recovering losses in a wave of sales that began in March a week before local elections.