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Reuters
Reuters
Business
By Marc Jones and Nevzat Devranoglu

Analysis-Turkish lira's long decline a symbol of strife

FILE PHOTO: A merchant counts Turkish lira banknotes at the Grand Bazaar in Istanbul, Turkey, March 29, 2019. REUTERS/Murad Sezer

As Turkey's lira hit a record low ahead of the country's election decider on Sunday, the currency is looking increasingly dysfunctional with investors concerned about what may be in store if Tayyip Erdogan secures another decade in power.

'Erdonomics', as the 69-year old president's unorthodox, growth-chasing policies are often dubbed, have driven the lira down 80% over the last five years, embedding an inflation problem and shattering Turks' confidence in their currency.

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