Turkish lira (TRY) drops against the dollar (USD), crisis ahead?

The Turkish lira (TRY) lost 43.91% of its value against the US dollar (USD) in just 159 days since March 1, 2018, from about USD 3.7 to 5.3 USD per Turkish lira currently. Analysts estimate that the Turkish lira could reach up to USD 7 within a few days if the Turkish central bank does not act decisively. If the Turkish lira reached such a level, Turkey’s banking system could collapse, warns Goldman Sachs (GS).

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