The Turkish lira exchange rate to the dollar has reached a historical low – Kommersant
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The Turkish lira fell to a record low against the dollar during trading. According to online trading data on the international Forex market, the value of the dollar exceeded 27.5 liras. As of 12:00 Moscow time, the dollar to Turkish lira exchange rate is growing by 0.25%, to 27.25 lira per dollar from the previous closing level of 27.1807 lira.
Over the past 12 months, the dollar/Turkish lira exchange rate has increased by approximately 48%. In an attempt to ease pressure on the currency, the Turkish Central Bank raised its key rate four times. In June, the regulator increased the key rate from 8.5 to 15% per annum, in July – to 17.5%, and in August – to 25%. September 21, Turkish Central Bank announced about raising the rate immediately by 500 bp, to 30%.
Read more about the rate increase in August in the Kommersant article. “The Turkish rate has rushed to new heights”.
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