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Turkish lira renews anti-record again

Headlines 13:46 13 Dec, 2021

The Turkish currency has once again renewed its historical low, breaking the mark of 14 liras per US dollar

Turkish lira renews anti-record again

The Turkish currency has once again renewed its historical low, breaking the mark of 14 liras per US dollar, Qazet.az informs referring to Turkish media outlets.

Experts associate this with a new decrease in the discount rate expected on December 16 by the country’s Central Bank.

The Turkish currency, which at the beginning of the year was trading at the rate of 7.4 liras per dollar, has fallen in price by almost 50% over the year. The maximum daily drop over the past 20 years was recorded on November 23 - the lira fell 16% on that day. It happened after the regulator decided on November 18 to reduce the discount rate to 15% from 16%.