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Turkey’s lira extended recent losses, weakening more than 1 per cent against the dollar on Monday, while stocks and dollar-denominated bonds rallied after the appointment
Turkey’s lira plunged 7 per cent to a record low on Wednesday in its biggest daily selloff since a historic 2021 crash, a move traders said is a “strong signal” that Ankara is moving away from state controls toward a freely traded currency. The lira has come under increasing pressure since President Tayyip Erdogan was re-elected on May
By deploying Turkish troops in the Arab world, the most dangerous man in this region, Turkey’s President Recep Tayyip Erdogan is following the bad example of “the most dangerous man in the world,” Donald Trump.
Turkey’s lira briefly fell 15 per cent to near its all-time low on Monday after President Tayyip Erdogan’s shock weekend ousting of a hawkish Central Bank governor sparked fears of a reversal of recent rate hikes.