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Published on Aug 14, 2018
President Recep Tayyip Erdogan says Turkey will be boycotting US electronic products in retaliation for what he calls an economic attack on his country.. Erdogan has repeatedly denied that the national currency is in crisis, even as it continues to slip against the dollar.
The lira has dropped 45 percent this year.
Turkey's Central Bank is easing bank restrictions to stabilise the currency.
Erdogan blames the decline on a plot against Turkey's economy.
Aly-Khan Satchu, a financial analyst and CEO of Rich Management, a financial and political advisory firm, talks to Al Jazeera about why Turkey's currency crisis is impacting global markets.