Turkish lira plunges record low amid political tension
Turkish lira plunges record low amid political tension
News   /  

The Turkish lira d to a new low against the dollar on Monday, pressured by a high-level corruption scandal rattling the government.

The lira fell to 2.1947 to the dollar, after dropping to 2.18 on Thursday and 2.17 on Friday.

The latest pressure against the Turkish currency arises from political tensions over a corruption and bribery investigation which has shaken Prime Minister Recep Tayyip Erdogan's pro-business government.

Finance Minister "Mehmet Simsek" told The Financial Times "we are faced with a significant challenge ... Whether or not the legal developments have negative impact on foreign direct investment, we will see, but we are committed to improving the investment climate", stressing that the fall of the lira would "obviously have some negative implications" for the Turkish economy.

Leave a comment: Comments represent their owners and does not represent `Syia is Here` necessarily.