The Turkish lira fell to a record low
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The Turkish lira set a record of its fall, depreciating against the dollar to 19.02 lira per unit of US currency during trading. According to data online trading, the rate of the Turkish national currency on March 16 fell to 18.98 lira per dollar.
In 2022, the economic crisis that began a year earlier intensified in Turkey. In particular, the country recorded the highest rate of inflation over the past 20 years. Inflation in the country rose against the backdrop of a depreciation of the lira and an increase in energy prices. The lira lost about 30% of its value against the dollar in 2022 and 44% a year earlier.
In 2023, another important negative factor for the Turkish economy and the national currency was a series of devastating earthquakes.
Read about the situation in the Turkish economy in the material “Kommersant” “Natural Consequences”.
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