ISTANBUL/ANKARA (Reuters) - Turkey’s lira plunged as much as 14 percent on Friday as worries about President Tayyip Erdogan’s influence over monetary policy and worsening U.S. relations snowballed into a market panic that also hit shares of European banks. FILE PHOTO: A money changer counts Turkish lira banknotes at a currency exchange office in Istanbul, Turkey August 2, 2018. REUTERS/Murad Sezer/File Photo. The sell-off has deepened concern about exposure to Turkey, particularly whether over-indebted companies will be able to pay back loans taken out in euros and dollars after years of overseas borrowing to fund a construction boom under Erdogan. Erdogan’s characteristic defiance in th... Full story
6 days ago, 10 August
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