Turkey's Currency Crisis 2018 Explained

The Turkish lira has been steadily losing value over the past year, and it crashed precipitously after US President Donalad Trump sanctioned the country's justice and interior ministers and announced plans to impose tariffs on Turkish steel and aluminum. As previously solid geopolitical alliances began to wobble, investors grew frightened. Today, inflation is hovering at around 16 percent, and consumers are seeing the value of their money decrease and the cost of food rise.