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Dominant currency, foreign trade, and the exchange rate

THE LIRA has almost always been weak since 2013. Lira strength is but a remnant of the past. After the 2001 Crisis when the Dervis-IMF programme was in vogue, and the ‘savings glut’ flooded the globe with cheap dollars, the TRY gained strength. That was the episode between 2003 and 2008. Somehow people were called...