Turkish lira sinks amid Erdogan fury with allies - BBC News

The Turkish lira has hit a record low of 8.15 against the dollar amid investor anxiety about the Turkish economy, hit by coronavirus and friction with Nato allies.

President Recep Tayyip Erdogan has riled France and the US among others.

Analysts attribute the weakening to concern about Turkish inflation - 11.7% last month - and the central bank's refusal to raise its key interest rate.

A rate rise could dampen inflation and encourage investors to buy lira.

President Erdogan's regional muscle-flexing - in Libya, Syria, around Cyprus and in the Caucasus - has disconcerted investors, market analysts say.