The Turkish lira slid to its lowest level in two years Wednesday as investors speculated that its central bank would struggle to stem the currency’s decline amid the coronavirus economic crunch. The lira dropped 1.1% against the dollar, with one dollar buying 7.15 Turkish lira, which would be its lowest closing level ever, after falling by nearly a fifth this year. The lira briefly traded at a weaker level on an intraday basis during Turkey’s August 2018 currency panic.

Source: Wall Street Journal May 06, 2020 12:56 UTC