2023-06-26 14:45:51
Last updated Monday 26 June 2023
The Turkish currency continues its decline today, Monday, as it reached a record low of 26 liras once morest the dollar.
According to “Bloomberg” data, the dollar exchange rate increased by 2.60% to 25.8911 liras by 16:09 Turkish time.
This is the lowest number recorded by the Turkish currency in its history.
According to Turkey’s follow-up, since last Thursday, the Turkish lira has been witnessing a decline following the Turkish Central Bank’s decision to raise the interest rate.
The interest rate was raised from 8.5% to 15% for the first time in more than two years. However, this decision came much lower than the expectations of economists who were expecting a rate hike to 20%, and some even expected to raise it to 40%.
The Turkish lira faces constant challenges as a result of economic conditions and global tensions. Investors are watching the future with caution and watching the impact of the decline of the Turkish lira on the Turkish economy in the coming period.
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