Turkey Crisis in Charts: Worse Than Lehman, Similar to 1998
- Currency trading costs soar past financial-crisis levels
- Country’s funding needs similar to levels in Asian crisis
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Turkey is mired in one of the worst currency routs in emerging-market history, with few signs of how it will end. The lira fell as much as 17 percent Friday, capping the biggest slump since the country’s banking crisis in 2001, and is down nearly 30 percent since President Recep Tayyip Erdogan was returned to office with sweeping new powers in late June.
Here are three charts that highlight the strains the country is facing: