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Turkish lira drops to record low after cabinet formation

© Press TV

Rahshan Saglam
Press TV, Istanbul

Turkish lira dropped overnight on Thursday, some 25 percent against US dollar. Economists are urging tighter monetary policy to fight inflation. Some indicate that the economic crisis is due to the designation of Erdogan’s son in law as the treasury and finance minister. The drop in lira is not only affecting big firms but also the daily life of citizens.

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