The Turkish lira fell below 17.5730 once morest the US dollar, on Tuesday, its weakest level since the major currency crisis in December; It was affected by the strength of the dollar and concerns regarding high domestic inflation and low interest rates.
The lira has fallen regarding 25% this year, following falling 44% in 2021, to become one of the worst performing currencies in emerging markets.
Unconventional interest rate cuts late last year triggered a crisis that pushed inflation to nearly 80 percent.
Archyde.com
