FRANKFURT — Turkey’s central bank aggressively raised rates late Tuesday, in a drastic move aimed at bolstering the currency. But it is unclear whether the move will be enough to satisfy international investors and repair the central bank’s reputation.

Turkey is facing increased political and economic pressure to take action. The Turkish lira has been among the most battered of developing-market currencies in recent weeks. After the central bank’s decision, the lira strengthened in after-hours trading.

“Recent domestic and external developments are having an adverse impact on risk perceptions, leading to a significant depreciation in the Turkish lira and a pronounced increase in the risk premium,” the central bank said in a statement. “The central bank will implement necessary measures at its disposal to contain the negative impact of these developments on inflation and macroeconomic stability.”

Turkey is battling a crisis of confidence in the global markets.

Along with Argentina, Ukraine and Thailand, Turkey’s domestic problems were more or less tolerated by international investors when the world was awash in cheap money. But now that the Federal Reserve has begun withdrawing its stimulus to the American economy, investors are taking a closer look and punishing countries like Turkey where there is both political turmoil and a monetary policy widely considered unsound by international economists.