Turkey’s next currency crisis approaches

The Turkish lira is down by 14% against the dollar this year and has been trading above the ₺8/€1 level for the first time in two years. 

The Turkish lira is “back in the firing line”, says William Jackson of Capital Economics. The Turkish tourism industry has been hit hard by the pandemic, reducing crucial foreign-currency earnings.

Rising tensions with EU member states have led to talk of economic sanctions. The result is that the lira is down by 14% against the dollar this year and has been trading above the ₺8/€1 level for the first time in two years.

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Markets editor

Alex is an investment writer who has been contributing to MoneyWeek since 2015. He has been the magazine’s markets editor since 2019. 

Alex has a passion for demystifying the often arcane world of finance for a general readership. While financial media tends to focus compulsively on the latest trend, the best opportunities can lie forgotten elsewhere. 

He is especially interested in European equities – where his fluent French helps him to cover the continent’s largest bourse – and emerging markets, where his experience living in Beijing, and conversational Chinese, prove useful. 

Hailing from Leeds, he studied Philosophy, Politics and Economics at the University of Oxford. He also holds a Master of Public Health from the University of Manchester.