Turkish Lira implodes, as Bitcoin and dollar appreciate against it

Quick Take

• The Turkish Lira continues to collapse against the dollar (23.5) lira to a dollar.
• Roughly ten years ago, it was one lira to one dollar.
• The Turkish Lira experienced a 6% plus depreciation, according to Mohamed A. El-Eria, dwindling international reserves.
• In the past five days, the USD is up 12%, while Bitcoin is up 7%, even with Bitcoin down 8% in USD terms this past month.

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