Turkey tries to contain crisis but currency keeps falling
ANKARA, Turkey — Turkey’s central bank took action Monday to free up cash for banks as the country grapples with a currency crisis sparked by concerns over President Recep Tayyip Erdogan’s economic policies and a trade and diplomatic dispute with the United States.
The Turkish lira has nosedived over the past week, accelerating a months-long decline, and tumbled another 7 percent on Monday as the central bank’s measures failed to restore market confidence.
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