Turkish citizens are abandoning the country’s currency, the lira, in exchange for U.S. dollars amid an unstable economy that has seen inflation levels soar.
The lira crashed 15 percent against the dollar on Tuesday last week in its second-worst day ever after President Tayyip Erdogan, who has led the country since 2003, said that he would not be deterred by rising inflation and defended recent sharp rate cuts, declaring an “economic war of independence.”
