{"id":57154,"date":"2021-12-20T14:58:17","date_gmt":"2021-12-20T10:58:17","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=57154"},"modified":"2021-12-20T14:58:20","modified_gmt":"2021-12-20T10:58:20","slug":"the-turkish-lira-fell-to-a-new-low","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/the-turkish-lira-fell-to-a-new-low\/12\/20\/market-updates\/","title":{"rendered":"The Turkish Lira Fell to a New Low"},"content":{"rendered":"\n<p>The price of the US dollar rose against the Turkish lira by about 6% in today&#8217;s transactions, to record the Turkish currency&#8217;s new low at 17.41 lira to the dollar.<\/p>\n\n\n\n<p>The prices of the Turkish currency are affected as a result of the inflation that Turkey is currently witnessing, which has plunged the value of the lira against the dollar by more than 55% since the beginning of the year.<\/p>\n\n\n\n<p>Turkish President Recep Tayyip Erdogan&#8217;s decision to press ahead with a 500 basis point interest rate cut since September, including a big cut on Thursday, has pushed inflation to more than 21 percent.<\/p>\n\n\n\n<p>Economists expect inflation to exceed 30% next year due to higher import prices and an increase in the minimum wage.<\/p>\n\n\n\n<p>Erdogan announced a 50 percent increase in the minimum wage to 4,250 Lira, equivalent to $275 per month, next year.<\/p>\n\n\n\n<p>But this is expected to increase overall consumer price inflation by 3.5 percentage points to 10 percentage points.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of the US dollar rose against the Turkish lira by about 6% in today&#8217;s transactions, to record the Turkish currency&#8217;s new low at 17.41 lira to the dollar. The prices of the Turkish currency are affected as a result of the inflation that Turkey is currently witnessing, which has plunged the value of &hellip;<\/p>\n","protected":false},"author":9,"featured_media":37851,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7095],"class_list":["post-57154","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-turkey"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/57154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=57154"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/57154\/revisions"}],"predecessor-version":[{"id":57155,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/57154\/revisions\/57155"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/37851"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=57154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=57154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=57154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}