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Turkey’s currency turmoil and upcoming election – what you need to know

The Turkish lira has dropped more than 15% this year against the US dollar and the government is doing all it can to stem the flow.

  • Gulcin Ozkan
  • The Conversation

Turkey’s central bank just raised the country’s main interest rate by 1.25 percentage points (to 17.75%) in a bid to stabilise the lira and halt surging inflation.

Katu 1aThis follows an emergency rate rise on May 23 of three percentage points.

With elections on the horizon, this is a trying time for the Turkish economy – despite the fact that the…

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