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Turkish New Lira

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Turkish New Lira


Down 25%

The new aversion to risky emerging markets has depressed the Turkish new lira. That's hurting Turkey's effort to fight inflation, which the government on Nov. 3 announced was up 2.6% in October. Turkish leaders are currently in talks with officials from the International Monetary Fund about renewing an agreement that lapsed in the spring providing the country with access to $10 billion in stand-by funds in case of financial strain.