Turkish lira drops to record low as the central bank defends approach. Concerns over Turkey’s depleted foreign exchange reserves and sharply negative real interest rates drove the lira down by 22%, making it among the world’s worst performers this year. The drop in the lira is the latest blow for a currency that used to trade almost at par with the U.S. currency less than two decades ago. It has posted losses every year since 2012, pressured by the credit-driven economy’s dependence on imports and dollar funding. Here are some similarities between Turkey's economic indicators and Sri Lanka indicators.
The Turkish Lira continued its gradual slide to record low level
Global IndexesOct 29, 2020