Turkey’s lira sinks to fresh record low

The Turkish lira exceeded today the level of 30 lira against the US dollar, in light of the confusion of financial policies managed by the state authorities.

Turkey’s lira sinks to fresh record low
11 January, 2024   11:44
NEWS DESK

 By 10:25, the dollar exchange rate rose by 0.14% to 30.0074 liras, according to Bloomberg data.

Thus, the Turkish currency has devaluated the 30 lira barrier against the dollar, recording the lowest level in the history of its trading.

The Turkish head of state's support for a policy of low interest rates despite high inflation led to a currency crisis in late 2021 and pushed inflation to rise above 85 percent in 2022.

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ANHA