Turkey's collapsing lira: government is running out of options for embattled currency
Gulcin Ozkan, Professor of Finance, King's College London
The Conversation11 August 2020
The Turkish lira hit its weakest ever level against the US dollar on August 7, trading at 7.36 at one point, having lost nearly 20% of its value since the beginning of the year. It comes almost two years to the day since Turkey was last hit by a massive currency crisis, following the economic sanctions imposed by the US government after Turkey detained American pastor Andrew Brunson on terrorism charges.
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