Turkey’s Lira Weakens to Record as Erdogan Fights Graft Probe
This article is for subscribers only.
Turkey’s lira tumbled to a record against the dollar and euro while bonds fell as Prime Minister Recep Tayyip Erdogan’s government purged police leadership in a fight back against a probe into official corruption.
The lira dropped as much as 1.2 percent to 2.0982 per dollar, the weakest since at least 1981, before trading 0.9 percent lower at 5:55 p.m. in Istanbul. The currency also fell as much as 1.2 percent to a record low of 2.8681 per euro. Yields on two-year benchmark notes increased 25 basis points to