The currency has lost more than 30% of its value so far this year.
Meanwhile, concerns were intensified on August 10 by a report in the Financial Times that the supervisory wing of the European Central Bank (ECB) had over the last weeks began to look more closely at eurozone lenders' exposure to Turkey. "Look at what we were 16 years ago and look at us now".
The lira pared some of its losses to trade at 5.9646 against the dollar at 0745 GMT, down 5.5 percent, after slumping as much as 14.6 percent to hit an all-time low of 6.4915 in early trade, according to Reuters data. Markets are deeply concerned over the direction of economic policy in Turkey where inflation has hit almost 16 percent while the central bank remains reluctant to raise rates in response.
Turkey will adopt a new economic approach under its executive presidency, one that will be decisive, sustainable and based on a "strategic mentality", Treasury and Finance Minister Berat Albayrak said on Friday. He has presented an economic action plan for the next 100 days.
"In most cases though, we suspect that this resilience will prove temporary", they said, highlighting expectations of rising USA interest rates and worries over growing USA protectionism.
A new analysis by Berenberg Bank sees little long-term impact of high Turkish inflation and low interest rates on eurozone gross domestic product (GDP) growth.
European economist Carsten Hesse said Friday that even if the export of goods to Turkey falls 20 percent that would take no more than 0.1 percentage point from annual GDP in the 19 countries that use the euro currency.
In fact, TRY once again drops below the 6.0 mark after Erdogan said the country faces a wave of artificial financial instability.
An analyst at Berenberg bank in London is downplaying the risks to Europe's economy from Turkey's currency turmoil, saying the impact on trade would be small.
"Many of these European banks have their own non-performing loans and liquidity issues to deal with themselves".
So if you can find a spot away from artificial light and free of clouds, you will be in for a great show! Capturing the fleeting light show requires some luck as meteors quickly strike through the starry skies.
Maritime universities are keeping a very close eye on a sudden and serious diplomatic spat between Canada and Saudi Arabia. But, our correspondent adds, during the recent crackdown on activists he has also shown that he will not tolerate dissent.
Skripal settled in Britain after a 2010 prisoner exchange. "The UK welcomes this further action by our US allies". These are sensitive goods that normally would go through a case-by-case review before they are exported.
Sixth seed Marin Cilic awaits in the quarter-finals following his speedy defeat of Argentina's Diego Schwartzman 6-3 6-2. Tsitsipas set up match point with a scorching cross-court victor before completing the victory in 2 hours, 17 minutes.
He said the team didn't agree with his belief that National Football League players should stand during the anthem. Players have criticized Goodell's ban, calling it an infringement on their right to protest peacefully.
Although Melania started from humble roots, she launched a successful modeling career prior to her marriage to the president. Green cards can also be obtained through employment, receiving asylum or refugee status, or in other special circumstances.
China's foreign film quota allows a maximum of around 34 foreign films to be imported into the country per year. The government has not completely banned photos of Pooh from the internet, but it has restricted them.
Police said they found the remnants in an open area on the outskirts of the city of Beersheba and that no one was hurt. A Palestinian official with knowledge of the ceasefire talks said Thursday that the truce was to begin at 20:45 GMT.
Baker Mayfield’s First NFL Preseason Game Is Over
After that, it was easy pickings for Njoku, who ran past Ogletree for an uncontested 36-yard touchdown pass from Tyrod Taylor . The Browns flew to East Rutherford, New Jersey to take on the New York Giants and an offseason of hype finally hit the field.