Once Bulwark of Currency, Ordinary Turks Done Buying Liras
Constantine Courcoulas
Turkey’s lira is on the cusp of losing the backing of one of its most loyal groups of investors: the people of Turkey.
The country’s citizens and businesses swooped in to buy liras this year amid political upheaval, a botched military coup and a spate of debt downgrades. While the currency fell more than any other emerging market outside of Latin America, Turks bought enough to help it rebound each time it dropped toward 3.10 per dollar.
More:Once Bulwark of Currency, Ordinary Turks Done Buying Liras - Bloomberg
