10. Comparing the downfall of the Turkish lira and Argentine peso (intermediate).

Access exchange rate data at http://fx.sauder.ubc.ca/data.html and the IMF Balance of Payments query tool at https://data.imf.org/bop.

a. Map the Turkish lira price of one U.S. dollar from January 1, 2016 to the present. Superimpose on the same graph Turkey’s current account during the same period.

b. Repeat the same exercise for Argentina over the same period.

c. Track the level of foreign exchange reserves held by Turkey and Argentina over the same period. Was either central bank attempting to stem the precipitous decline of their currency?

d. Comment on the similarities and differences between the two crises.