Turkish lira reaches fresh low as crisis impacts emerging markets
Central bank announces lower reserve requirements in bid to increase liquidity
The Turkish lira reached a new record low today (August 13) as the country’s crisis deepened and spread to other emerging countries.
The lira continued the sharp decline it experienced last week, despite lower reserve requirements announced by the Central Bank of the Republic of Turkey in an attempt to increase liquidity in the financial system.
The central bank said its actions had released 10 billion lira ($1.5 billion) of liquidity into the market, as well as $6 billion and gold liquidity
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