Turkey's Lira continues to struggle
Updated:
May 30, 2023, 12:45 PM IST
Recep Tayyip Erdogan winning the Turkish presidential runoff has turned out to be a bad news for the ailing Turkish Lira. The currency has weakened to a record low as foreign investors fear further alienation under the strongman's regime. The Lira fell 0.6% to 20.10 per us dollar on Monday, which is a record low on a closing basis. Wall Street analysts see more weakness ahead, with Morgan Stanley warning it may slide 29% toward 28 per dollar by the end of the year.
Tuesday, May 30, 2023 at 7:15 am