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Turkish Currency Slump Spurs Political, Economic Fears

The start of the new year has been tough for the Turkish lira. Within the first 10 days, the currency fell 8 percent amid rising concerns about the economy, the country's debt and political instability. “It's pretty serious,” warns Turkish economist Inan Demir of Nomura Bank, “because the lira is mostly singled out among emerging market currencies.” Demir says international markets are increasingly concerned for a growing list of reasons. “In addition to this combination and...

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