ISTANBUL -- The lira has depreciated by about 3% against the dollar in the weeks since the arrest of Istanbul Mayor Ekrem Imamoglu as financial markets grow concerned that Turkish President Recep Tayyip Erdogan's authoritarian policies will rattle the economy.
Currencies
Turkish lira weakens on political upheaval, hurting inflation fight
Istanbul mayor's arrest has financial markets spooked over Erdogan
Pedestrians walk in Istanbul during the Eid al-Fitr holiday on March 31. Turkish inflation slowed to 38.1% that month. © Reuters
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