Sinking Turkish Lira, Indian Rupee Raise Specter of Contagion

Sinking Turkish Lira, Indian Rupee Raise Specter of Contagion

Sharp declines within the Turkish lira, Indian rupee and different currencies have raised the prospect of a self-reinforcing flight from riskier rising markets.

While the lira recovered barely on Tuesday, and so did many friends, India’s forex tumbled previous 70 per greenback, a historic low. Across the world, the Argentine peso fell one other 2.1%, even after an emergency enhance in rates of interest to 45% from 40%.

The…

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