Turkish lira hits historic low

Turkish lira hits historic low



The Turkish lira has fallen to a historic low against the US dollar. During trading on Monday, September 26, 18.458 lira was given for one dollar.

Another weakening of the lira was a consequence of the reduction on September 12 of the key rate by the Central Bank of Turkey - up to 12 percent.

The regulator explained his decision by the need to stop the slowdown in the country's economic growth. At the same time, in August, inflation in Turkey exceeded 80 percent.

At the end of 2022, the Turkish lira has already weakened by 28 percent.



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