Friday, October 23, 2020

The Turkish lira is on its worst losing streak since 1999 | Al Jazeera

Turkey’s lira headed for its longest weekly slide since 1999, abandoning a tentative rebound after the central bank spooked investors by refraining from an interest-rate hike just when economic and geopolitical risks are mounting.
The ninth week of declines also took the currency closer to the psychological 8-per-U.S. dollar mark, underscoring markets’ concern that the country’s monetary policy remains too loose for its economic and credit conditions.

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