Turkish Lira Heads Toward Record Low as Post-Coup Purge Widens

Updated on
  • Societe Generale recommends selling lira against dollar
  • Central bank lowers overnight lending rate by 25 basis points

The 'Doom and Gloom' Facing Turkey's Lira

Turkey’s lira traded within 1 percent of an all-time low as a purge of the country’s institutions and the prospect of a junk rating from Moody’s Investors Service deepened concern about the fallout from last week’s failed coup.

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