Erdogan tells Turks to buy lira; currency crashes to record low

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Erdogan tells Turks to buy lira; currency...
 © CyprusMail 2018
Turkey’s lira plunged as much as 14 per cent on Friday as worries about President Tayyip Erdogan’s influence over monetary policy and worsening US relations snowballed into a market panic that also hit shares of European banks.

Erdogan responded by telling Turks to exchange gold and hard currency into lira, framing the crisis as a “national battle” against economic enemies.

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...


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

Erdogan tells Turks to buy lira; currency crashes to record low


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