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Turkish lira sinks to record lows against the US dollar
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Turkey’s currency is slumping to record lows against the US dollar, deepening the poverty felt by households across the country and eroding popular support for Recep Tayyip Erdoğan’s government.
The lira fell 1% to a new low of 9.97 against the greenback on Thursday because of higher-than-expected US inflation data, settling at around 9.93 when US markets opened. The currency has lost a staggering 25% of its value so far this year after a series of deep interest rate cuts by Turkey’s central
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