Turkish lira woes continue

Turkish lira woes continue

Turkey’s lira was headed for its worst day this month on Thursday as concerns over financial stability grew, while other emerging market currencies were encouraged by a weaker dollar, although surging Covid-19 cases capped gains.

The lira dropped as much as 2.3% to 8.3669 to the dollar, leading losses across emerging market currencies in Europe, the Middle East and Africa (EMEA). It had tumbled nearly 1% on Wednesday after President Recep Tayyip Erdogan defended a costly foreign exchange sales policy. [Reuters]

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