Published: August 12, 2018
The currency fell nearly 9% in early trade on Monday as investors fear the country’s financial crisis could infect European markets
The Turkish lira has fallen almost 9% in early trading on Monday as investors fear the country’s financial crisis will spread to European markets.
Despite defiant words by the Turkish president Recep Tayyip Erdoğan over the weekend pledging action to reverse the slide, the currency stood at 6.99 lira to the US dollar at 2.30BST on Monday, a fall of 8.7% on Friday’s closing price.
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