The Turkish Lira Fell to Its Lowest Level

The Turkish lira fell 0.7% against the US dollar to return to its lowest levels, affected by continuing concerns about the monetary easing policies of the Central Bank, despite the increase in the inflation rate by more than 21%.

The Turkish lira recorded 13.85 to the dollar by 06:17 GMT, compared to Friday’s close of 13.7485.

The lira touched an all-time low of 14 against the dollar last week, after a significant decline during the past month.

Turkish President Recep Tayyip Erdogan had previously said that he hopes foreign exchange rates and inflation rates will stabilize in a short period.