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Turkish Lira Hits a New Record Low

M. Ali 28 October, 2020 2:14 am Forex Market, Market Update

The Turkish Lira (TRY) declined on Tuesday to another record low, with expectations the USD/TRY pair could now reach an unprecedented 8.5 or 9 levels.

The Turkish currency’s losses since the beginning of the year against the US Dollar (USD) have now reached 20%.

The USD/TRY is higher for the day by 0.08% at 8.1930.

The pair has been moving throughout the day in a range between 8.1830 and 8.1964, after closing yesterday’s session at 8.1866.

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