Turkish Lira Weakens to Record as Geopolitical Risks Mount
Turkey tests the S-400 air defence system from Russia at Murdet Air Base in Ankara, Turkey, in 2019.
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Turkey’s lira depreciated to a record against U.S. dollar, decoupling from other emerging-currencies amid mounting geopolitical risks in the region.
The lira fell as much as 0.9% to 7.8692 per dollar, extending losses this year to more than 24%, the second-biggest slide in emerging markets after Brazil’s real.