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Turkey risks facing a fully fledged economic crisis as its currency woes deepen.
Turkey’s worsening currency crisis has dented investor confidence in the country. It is also weighing on Turkey’s gas demand because the freefall in the value of the lira against the United States dollar is making imported LNG and pipeline gas more expensive. The dollar-lira exchange rate, which reflects the strength of the dollar against the lira, has averaged 5.73 so far in August. This marks its highest-ever monthly average and an increase of...
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