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Emerging markets currency crisis - in 60 seconds

29 January 2014 Last updated at 11:49 GMT

The Turkish central bank has raised its overnight lending rate to 12% from 7.75% after an emergency meeting.

It also increased the overnight borrowing rate to 8% from 3.5%, in a move intended to help stabilise the value of the lira.

There has been ongoing turmoil across emerging markets, as Sally Bundock explains.