Turkish Lira’s Drop Stands Out in Emerging Markets: Chart

Turkey’s lira stood out among emerging-market currencies on Thursday, dropping as much as 0.9 percent against the dollar while its peers ground out small gains. The lira, which dropped to a record last week, is falling amid turbulent politics, a worsening security situation and the risk of higher oil prices pushing up the country’s import bill. Until confidence is restored, the currency will remain vulnerable, according to Rabobank analyst Piotr Matys.

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