Turkey Runs Low on Ammunition to Combat Lira's Slide

Investors are worried Turkey is running low on options to curb volatility in its currency after the lira hit its weakest level against the dollar in two months.

After months of staying relatively stable because of the central bank’s intervention, the lira has fallen sharply this week. Since Monday, the currency has fallen by about 2% to trade at about 6.99 lira to the dollar, its weakest level since May 12 and approaching its record low, despite the dollar weakening against other major currencies.

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