The Turkish Lira is Slipping Towards Its Lowest Level Since The Beginning of 2021

The Turkish lira weakened on Thursday (March 4th) and reached a level of 7.5 for the first time since January 18, under pressure from global concerns about rising US Treasury yields and concern over rising inflation in Turkey.

The Turkish lira fell against the dollar to 7.5145 compared to 7.4550 on Wednesday, when data showed that annual inflation increased to 15.6% in February. But by 09:00 GMT, the Turkish lira had recovered slightly to 7.48, but that was still below the level it ended at last year, which is 7.44.