 "Turkey, Markets,")
Investors in Turkey are no strangers to volatility that for years has plagued one of the Middle East’s largest economies. But not everyone may stick around this time.
The lira tumbled to a record low on Friday even though the central bank has spent billions over the past year propping it up. Earlier this week, the cost of borrowing money offshore jumped beyond 1,000%, the latest sign of dysfunction in Turkey’s money markets.
Authorities have resisted raising interest rates despite pressure on the currency to weaken further, prompting an outflow of foreign capital and leaving the economy vulnerable as its currency buckles.
The
