Turkey's national currency, the lira, has tumbled by nearly 40% against the US dollar so far this year.

Turkey's President, Recep Tayyip Erdogan, has so far resisted pressure to implement monetary and fiscal orthodoxy, preferring instead to lash out at both the financial markets and the US.

He has suggested that there is a global plot that aims to destroy Turkey's political and economic achievements.

US sanctions Turkey over detention of pastor