Putting the Turkish lira’s fall into context

The Turkish lira has fallen sharply in recent days amid concerns about the central bank’s decision making, rising geopolitical tensions, and the backdrop of a dire external position. The experience from previous sell-offs is that most of the fall in the lira may have already happened and that the currency could even appreciate over the next three-to-six months. But geopolitical developments are a wild card.
Jason Tuvey Senior Emerging Markets Economist
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