Yesterday the Turkish Lira hit an all-time low as Turkey headed towards its second parliamentary election of the year after coalition talks between the two biggest parties collapsed. Falling a further 1.8% against the US dollar yesterday, the Turkish lira has dropped by 17% against the dollar this year! Meanwhile, the Borsa Istanbul 100 Index of equities also slumped 1.4%, the lowest level in five months. It has been predicted that things are only going to get worse for the Turkish currency.
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