Turkish lira hits historical low

The Turkish lira updated its historical minimum against the dollar at the last auction of the year, exceeding 29.7 liras per dollar.

Reported from the trading data that the Turkish currency has fallen in price for every month since the beginning of the year, except for August. The lira fell the most in June - by almost a quarter, to 26 liras from 20.8 liras per dollar; in July the figure already exceeded the level of 27 lira.

The Turkish authorities do not set targets for the lira/dollar exchange rate; the exchange rate has been left to float freely, Finance Minister Mehmet Simsek said in September.

Türkiye's central bank said in June it would continue to gradually tighten monetary policy until the inflation outlook improves.





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