The Turkish lira is up about 45 percent in the past 24 hours. While that may sound good, the currency was down almost 55 percent for the year before that rally. It’s still down 40 percent.
Economists blame Turkey’s low interest rates, money printing, and loose monetary policy for the rapid devaluation.
NTD spoke with Muhammed Demir, head of capital markets at the Swiss Finance Corporation, about the situation.