ArmInfo. The Turkish lira hit an all-time low against the dollar after the republic was involved in yet another regional conflict, this time between Azerbaijan and Armenia. This is reported by the online edition MK-Turkey.ru
The Turkish lira fell to a minimum of 7.8 per dollar on Monday morning (military aggression against the NKR began on Sunday - ed. note), later dropping to 7.734.
Turkey has deployed military equipment, including F-16 fighters in Azerbaijan, ahead of the latest military clashes with Armenia over the disputed region of Nagorno-Karabakh, Ahval reports.
The lira also falls after financial institutions including Goldman Sachs said it was not the time to invest in emerging market currencies, including Turkey.
"There is concern that Turkey, whose economy is on its knees and is actively involved in the escalation of conflicts in northern Syria, as well as with Greece in the Mediterranean, may be drawn into another regional conflict that it cannot afford, either politically or economically" - the dition quotes Jeffrey Halley, senior market analyst at Oanda in Singapore.