Reported about 1 month ago
The Turkish lira is poised for its steepest weekly drop in almost two years, falling 3.7% after the detention of Istanbul Mayor Ekrem Imamoglu, a major opposition figure. This decline led to significant currency sell-offs and prompted the central bank to implement a substantial interest rate hike to stabilize the situation. As a result, the lira's value fell to 38 per dollar, increasing market volatility and impacting investor sentiment.
Source: YAHOO