Lira at 3 to the Dollar Brings Turkey Recovery No Closer
The lira has been in free fall since Turkey’s governing AK Party said last week it had failed to form a coalition government, putting the country on course for a second general election in six months.
Political instability, combined with a surge of violence following the collapse of a three-year-old peace process with Kurdish rebels, caused investors to flee the currency, which touched a record low 3 per dollar on Thursday.
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