{"id":72850,"date":"2022-09-26T11:28:41","date_gmt":"2022-09-26T07:28:41","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=72850"},"modified":"2022-09-26T11:29:02","modified_gmt":"2022-09-26T07:29:02","slug":"the-turkish-lira-falls-to-a-record-low-against-the-dollar","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/the-turkish-lira-falls-to-a-record-low-against-the-dollar\/09\/26\/market-updates\/","title":{"rendered":"The Turkish lira falls to a record low against the dollar"},"content":{"rendered":"\n<p>The Turkish lira fell to an all-time low against the dollar during early trading Monday, September 26, bringing its losses so far this year to more than 28% and continuing its decline after an unexpected interest rate cut last week.<\/p>\n\n\n\n<p>The lira price reached 18.4440 against the dollar as of 04:53 GMT, down from its level at the close on Friday, which amounted to 18.4280.<\/p>\n\n\n\n<p>The lira earlier fell to a record low of 18.4450.<\/p>\n\n\n\n<p>The central bank unexpectedly cut its benchmark interest rate by 100 basis points last week to 12%, citing an economic slowdown despite inflation rising to more than 80% in August.<\/p>\n\n\n\n<p>This reduction came in contrast to analysts&#8217; expectations, as markets had expected the Central Bank of Turkey to maintain the interest rate at 13% without making any change.<\/p>\n\n\n\n<p>Data showed Turkey&#8217;s annual inflation rate rose to a 24-year high of 80.21% in August, after the central bank decided to cut interest rates unexpectedly last month, but the data remained below expectations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Turkish lira fell to an all-time low against the dollar during early trading Monday, September 26, bringing its losses so far this year to more than 28% and continuing its decline after an unexpected interest rate cut last week. The lira price reached 18.4440 against the dollar as of 04:53 GMT, down from its &hellip;<\/p>\n","protected":false},"author":9,"featured_media":34416,"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":[7121,6936,9436,6871],"class_list":["post-72850","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-lira","tag-oil-prices","tag-ukraine-crisis","tag-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72850","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=72850"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72850\/revisions"}],"predecessor-version":[{"id":72852,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72850\/revisions\/72852"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/34416"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=72850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=72850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=72850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}