Turkey's currency plunges amid military coup attempt

July 15, 2016 9:06 PM

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The Turkish lira declined 5% against the U.S. dollar, a dramatic move for a major currency. Reuters reported the Turkish military said in a statement that the military has taken over the country.

Reports about unusual military activity emerged on Twitter shortly before U.S. markets closed on Friday. Those early reports caused the iShares MSCI Turkey ETF (TUR) to close down 2.5%. The ETF, which tracks Turkish stocks, plunged another 6% in after-hour trading.

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