The value of Turkey’s currency, the lira, has depreciated against the US dollar in the last 12 months. Turkey is going through a currency crisis after the lira collapsed in value by about a fifth over the past two weeks. Reports suggest that the collapse of the lira’s value has not been caused by problems in the country’s economic fundamentals. The lira weakened as far as 12.85 against the dollar after the Turkish President defended the country’s monetary policies. Investors are losing confidence in Turkish markets as the lira became the world’s worst-performing currency.
#Turkey #Lira #Erdogan





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