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Turkish Lira in All-Time Low

Adel 22 October, 2020 11:05 am Forex Market, Market Update

The Turkish lira fell against the US dollar below the 8 for the first time, with doubts surrounding the efforts of the Turkish Central Bank to support the Turkish currency with the escalation of geopolitical tensions.

The Turkish lira fell 1.2% to $ 8.0088 on Monday, the largest decline compared to other emerging market currencies.

This comes after the Turkish central bank left interest rates unchanged last week, contrary to market expectations.

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