Turkey: Currency Value Tumbles Toward Record Low

The value of Turkey's currency, the lira, rapidly depreciated to records lows, falling to 3.97 to the U.S. dollar. In an effort to not breach the unprecedented rate of 4 lira to 1 dollar, Turkish President Recep Tayyip Erdogan instructed his ministers to prepare for urgent measures to bolster the currency in the next few days. On Nov. 21, Turkey's Central Bank cut its borrowing limits to sustain the lira's value, reduce liquidity and avoid a financial meltdown....