Turkey’s lira logs worst year in two decades under Erdogan By Reuters – Investing.com
- Date: 01-Jan-2022
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Turkey’s lira logs worst year in two decades under Erdogan By Reuters – Investing.com
By Ece Toksabay and Tuvan Gumrukcu
ANKARA (Reuters) - has logged its worst year since President Tayyip Erdogan came to power nearly two decades ago, despite his appeal on Friday for Turks to trust his unorthodox policies of slashing interest rates in the face of soaring inflation.
The lira - by far the worst performer in emerging markets in 2021, as well as in the last few years - shed 44% of its value against the dollar over the year and 19% in the last week alone. [EMRG/FRX]
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