Bloomberg) -- Turkey’s lira was the only emerging-market currency to gain against the dollar on Wednesday, as peers around the world tumbled on the prospect of a return to the White House for Donald Trump. The currency rose as much as 0.3% against the dollar as of 9:55 a.m. in London, benefiting from strong support from state-run banks that also encouraged foreign funds to enter the market, according to traders familiar with the transactions, who asked not to be identified because they weren’t authorized to speak publicly. The state lenders sold more than $500 million to defend the lira at a level around 34.3550 per dollar mostly during Asian trading hours, when other emerging-market currencies were tanking on the prospect of a Trump victory, the traders said. On the back of that support, hedge funds joined in, the people said.