The Turkish lira is tumbling again on Tuesday amid the fallout from the coup attempt late last week.
At 11:12 a.m. ET, the lira is down by 2.34% to 3.0499 per dollar. It is the worst-performing currency in emerging markets worldwide, according to Bloomberg, and has fallen below the level it dropped to as the coup attempt unravelled on Friday.
The currency slipped on Tuesday after Turkey’s education board ordered 1,577 university deans to resign. It’s part of a sweep of dozens of state institutions following the failed military coup on Friday.
A faction within the Turkish armed forces calling itself the “Peace at Home Council” tried to overthrow the government, but was stopped in less than 24 hours, after Turkish president Recep Tayyip Erdogan called on his supporters to take to the streets and repel the uprising.
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