Turkish lira sinks to a new historical level

The Turkish lira fell in Thursday trading to a new record ahead of today’s meeting of the Turkish Central Bank.

By 11:50 Moscow time, the dollar rose by 0.18% to 18.3618 lira, and before that, the Turkish currency was trading at 18.38 lira per dollar, which is a record low.

The decline in the Turkish currency is due to the expectations of some analysts that the Central Bank of Turkey will decide on a new interest rate cut after a sudden cut in August 2022.

Source: Prime + Bloomberg.

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