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Turkish Currency Hits Record Low Amid Erdogan Concerns

Turkey's currency has fallen to a record low against the dollar amid concerns about an outflow of investor capital and the country's ability to manage the situation. The lira weakened to over 4.80 per dollar on Wednesday, down some 5 percent since the previous day. The drop puts pressure on the Turkish Central Bank to sharply increase rates before a scheduled monetary policy meeting on June 7. But it is seen to be reluctant as President Recep Tayyip Erdogan wants rates...

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