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Turkey faces threat of financial crisis after lira plunges against dollar
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theguardian.comFears that Turkey is on course for a full-scale financial crisis have intensified after the lira plunged to fresh lows against the US dollar.
Turkey’s central bank was forced to step in to defend the ailing currency – selling US dollars for lira – after the latest sharp selloff.
The lira was at one stage trading at almost 15 to the dollar as currency dealers contemplated the prospect of the latest in a series of interest rates cuts demanded of the central bank by the country’s president, Recep
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