Turkish lira hits new record low against US dollar economy

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Turkey's currency troubles deepened on Monday as the country's lira hit a new low against the US... • euronews, the most watched news channel in Europe • Subscribe for your daily dose of international news, curated and explained:http://eurone.ws/10ZCK4a • Euronews is available in 13 other languages: http://eurone.ws/17moBCU • http://www.euronews.com/2014/01/06/tu... • Turkey's currency troubles deepened on Monday as the country's lira hit a new low against the US dollar. • Political tensions, notably a high-level corruption scandal engulfing Prime Minister Recep Tayyip Erdogan's government are thought to have helped compound the latest slump. • The drop marks another new record low against the dollar, with investors already concerned the country is ill-placed to cope with the US Federal Reserve raining in quantitative easing. • Turkey has one of the biggest current account deficits of any major economy. • The country's central bank has shied away, for the moment, from cutting interest rates, preferring to prop up the lira by selling Turkey's dollar reserves. • • Find us on: • Youtube http://bit.ly/zr3upY • Facebook / euronews.fans • Twitter / euronews

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