The Turkish currency fell 1.5% to a new all-time low of 10,565 against the US dollar
Turkish Lira
According to a Reuters poll, the Turkish central bank is expected to cut its key interest rate to 15% from 16% this week
The currency has lost more than 24% of its value so far this year
Pharmacists are reporting supply problems with nearly 650 drugs, from painkillers & cough syrups to treatments for asthma, influenza & cancer
Pressure eases on lira after Turkey president retreats over envoys’ expulsion threat
Downward spiral...
Erdogan this month fired bank governor Naci Agbal who had increased the country’s policy interest rate by a total of 875
The lira lost 17% of its value in the Asian markets
Jewelers are shocked by the proposal
Today, even staunch AKP supporters find it difficult to trust state figures on the economy