Turkish lira crashes to record low on worries over economy, U.S. row

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Turkish lira crashes to record low on worries...
 © In-Cyprus 2018
Turkey’s lira plunged as much as 14 percent on Friday as worries about President Tayyip Erdogan’s influence over monetary policy and worsening U.S. relations snowballed into a market panic that also hit shares of European banks.

The sell-off has deepened concern about exposure to Turkey, particularly whether over-indebted companies will be able to pay back loans taken out in euros and dollars after years of overseas borrowing to fund a construction boom under Erdogan.

Erdogan’s characteristic defiance in the face of the crisis has further unnerved...


This article was automatically added to our system 10-8-2018

Turkish lira crashes to record low on worries over economy, U.S. row


The contents of this article including any associated images are © In-Cyprus 2018
Views & opinions expressed in this article are those of the author and/or In-Cyprus .

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Article Tags: turkish, crashes, record, worries, economy,

 

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