August 15, 2018

A turbulent five days for the Turkish economy has seen the lira hit a record low against the US dollar, sparking fears of a meltdown as Ankara and Washington traded blows over the detention of an American pastor in Turkey.

Although the case of Andrew Brunson, an Christian Evangelical preacher from North Carolina, has been the focus of the deterioration in US-Turkish relations, Turkey's existing economic woes have merely been exacerbated by the row, according to analysts.

In June, Turkey held elections which were brought forward more than a year largely because of the economic crisis on the horizon.

Read more:

https://www.aljazeera.com/news/2018/08/turkey-lira-slump-180814183533396.html