A money changer counts Turkish lira banknotes at a currency exchange office in Istanbul, Turkey August 2, 2018. REUTERS/Murad Sezer
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Turkey needs to halt the sharp slide of the lira quickly, credit rating agency Fitch said on Thursday, warning the country's situation had worsened since its downgrade just a month ago.The lira slumped to a record low in Istanbul, as a U.S. move to impose sanctions on Turkey over a jailed American pastor compounded long-running worries over inflation and general economic mismanagement.Fitch kept a "negative outlook" on Turkey after last month's one-notch cut. That brought Fitch in line with Moody's equivalent grade but still above S&P's "BB-" level.
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