Skip to content
Subscriber Only

From Best to Worst: Investors Are Souring on Turkey’s Markets

  • Foreign stock ownership in Turkey is near all-time lows
  • The lira is world’s worst-performing major currency this year
Turkish Lira Reaches Record Low on Erdogan Rate-Cut Demand
Photographer: Nicole Tung/Bloomberg

In just three months, the Turkish lira has gone from best to worst.

The currency is the victim of the head-spinning policy swerves of President Recep Tayyip Erdogan, who is once again pressing policymakers to cut rates even as inflation remains at almost 17%.