The lira’s losses this week are putting Turkey’s currency on course for its worst weekly performance since July 21 as higher-than-expected inflation, combined with concerns over dwindling reserves, weigh on the currency. The volatility is expected to remain high this month in the runup to local elections. The Turkish currency weakened 0.2% on Friday to 31.9536 per US dollar, extending this week’s losses to 1.9%. The one-month implied volatility on USD-TRY currency pair, an expected gauge of volatility, has climbed to the highest level in more than four months this week and is hovering near that level. The lira had ... (full story)