Turkey’s currency plunged again Monday, rattling other vulnerable emerging markets, as a defiant speech from President Recep Tayyip Erdogan and policy moves from the nation’s…
Turkey’s currency plunged again Monday, rattling other vulnerable emerging markets, as a defiant speech from President Recep Tayyip Erdogan and policy moves from the nation’s central bank failed to assuage investors about the country’s perilous financial condition.
The lira fell as much as 10% in early Monday trading to as low as 7.131 against the U. S. dollar, according to FactSet. It later pared some of the losses but President Erdogan’s fiery tone hit the currency again, leaving it down 6.95% lower at 6.91 against the dollar….
