LONDON (Reuters) - Caught up in a toxic mix of fractious geopolitics, unorthodox monetary policy and domestic power plays, Turkey’s lira has been firmly on a bumpy yet steadily descending path in recent years.
Having emerged from a bruising 2018 that saw the currency tumble nearly 30% and following a difficult start to this year, the lira enjoyed a brief period of stability over the past two weeks.
But the dismissal of central bank chief Murat Cetinkaya over the weekend has pushed the lira firmly back into the limelight - for all the wrong reasons.
The currency has tumbled some 70% against the U.S. dollar since the 2013 “taper tantrum”, when the Federal Reserve announced a step down in asset purchases and triggered a sharp sell off in riskier assets, especially emerging markets.
Below are some of the main events that have marked the lira’s decline in recent years:
Turkey's lira - the long decline - tmsnrt.rs/2YPkU84
Reporting and graphic by Karin Strohecker, Editing by William Maclean