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Turkish lira in freefall after Erdogan moves to expel ambassadors | DW News

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The Turkish lira tumbled more than one percent against the dollar after President Recep Tayyip Erdogan called for the expulsion of ambassadors from 10 countries, including Germany and the United States, who had appealed for the release of a jailed civil society leader. Financial market experts are saying that Erdogan is trying to distract from Turkey's desolate economic situation. Inflation has reached almost 20 percent, and the central bank has just cut its lending rate by a full 2 points, possibly making matters worse.

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#Turkey #Erdogan #Lira
Category
Europe
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DW News
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