Turkish lira plunges again amid looming sanctions
Finance ministry to unveil ‘new economic model’, as central bank struggles to support the currency
The Turkish lira has suffered another rough week, falling further today (August 9), as investors flee the ailing economy and a delegation to the US struggles to prevent further sanctions being imposed.
The Turkish currency shed some 2.3% of its value against the dollar between midnight and 8am London time, adding to losses incurred earlier in the week. The lira touched a record low before rebounding slightly.
In a statement today, the finance ministry said it would be unveiling a “new economic
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