New all-time lows for the Turkish lira on euro and dollar. After yesterday's collapse (-4% on the greenback), the Turkish currency today recorded a further drop of 0,6% against the US currency, falling to an exchange rate of 2,41, to then position itself in the early afternoon at an altitude of 2,38.
The euro, on the other hand, appreciated by 1,5% and is now traded at 2,98 lire, after having even passed the 3 lire threshold. Meanwhile, the Istanbul Stock Exchange meanwhile it drops by around three percentage points.
The nervousness of the markets is linked to two factors: the endless fall of the ruble (which the Central Bank of Russia tried to stem overnight with a new and broad discount rate hike) and especially, the wave of arrests decided yesterday by the Islamic-conservative regime of Ankara against about thirty journalists who oppose the power of President Recep Tayyip Erdogan.
Turkey, an emerging country with 76 million inhabitants, has been suffering for months from a marked slowdown in growth and an increase in unemployment.
