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Turkish Lira Hits New Record Low

M. Ali 15 October, 2020 8:31 pm Forex Market, Market Update

The Turkish Lira (TRY) hit another record low on Thursday as the USD/TRY pair reached 7.95, getting close to an unprecedented level of 8.

Ankara’s monetary policy has been heavily criticized as it is failing to stop the local currency’s wounds.

USD/TRY is currently trading at 7.9323, up by 0.28% for the day.

The pair has been moving in a range between 7.9042 and 7.9516, after closing Wednesday at 7.9105.

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