1、 https:/crsreports.congress.gov Updated August 30, 2018Turkeys Currency CrisisTurkey, the 17th largest economy in the world, is facing a significant currency crisis. The value of its currency, the lira, has fallen by about 40% against the U.S. dollar since the start of 2018 (Figure 1). The lira lost
2、 about 25% of its value in the first two weeks of August. The collapse in the value of the Turkish lira may pose questions for Congress for foreign policy and economic reasons. On foreign policy, economic instability in Turkey could impact U.S.-Turkey relations, with tensions heightened in recent mo
3、nths between the two NATO allies. On the economic side, U.S. direct economic exposure to Turkey is relatively low. Nevertheless, Turkeys currency crisis risks impacting European banks and spilling over to other emerging markets, which could have implications for the U.S. economy. Figure 1. Value of
4、the Turkish Lira: 2018 to date Liras per U.S. dollar Source: Central Bank of Turkey. Notes: An increase in lira per U.S. dollar represents a depreciation of the lira relative to the U.S. dollar. Currency Crisis in Turkey Vulnerabilities and Lira Depreciation Since the global financial crisis of 2008
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