Turkish lira plunges as state-owned banks cease defense

According to a Bloomberg report, state-owned banks in Turkey have ceased their efforts to support the lira through expensive dollar sales. This change in approach could indicate the new finance minister's commitment to implementing a more "rational economic policy." The report also highlighted that the country's state banks refrain from…

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The economy of a nation is the engine that drives prosperity and creates wealth for that country and its citizens. A nation's utilization of its available resources and manpower has a great influence upon its overall economic prowess. Factors such as governmental structure, access to valuable commodities, size and sophistication of the labor force, and relations with trade partners are all key components of achieving…

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