Another wave in the free fall. 1 USD=7,27 Turkish Liras

The Turkish lira tumbled to a four-month low against the dollar in the second day of frenetic trading, even as authorities spent about $2bn in an attempt to fend off the heavy selling. The currency dropped as much as 1.6 per cent on Tuesday to 6.97

At this time of year, Murat Tugay, who runs the 240-room Hotel Aqua in the Mediterranean resort of Marmaris, should be dealing with a packed guestbook and all the challenges of peak season. Instead, the hotel is closed and Mr Tugay is banking on a

“In the near term, policies need to cushion the impact of the Covid-19 crisis and protect the most vulnerable through temporary and targeted fiscal support,” the fund has stated in its External Sector Report.