Turkish lira may extend slide to 8 per dollar, pressuring economy
Turkey is facing the prospect of further losses for the lira, pressuring economic fundamentals and the balance sheets of companies.
The lira could extend a succession of record lows this year and fall to 8 per dollar, compounding its 25 percent decline in 2020, Reuters reported on Monday.
Foreign exchange debts coming due in the remainder of the year are becoming more expensive to repay as the lira falls, spelling more bad news for Turkish companies. Inflation threatens to impart further financial pressures.
