The Turkish lira records a record collapse against the dollar –...

The Turkish lira records a record collapse against the dollar –...
The Turkish lira records a record collapse against the dollar –...

landed Turkish lira To new lows against the dollar, today, Wednesday, after the central bank raised its expectations for the rate of inflation in the current and next years.

And the lira recorded its lowest level ever at 8.2655 against the greenback by 0908 GMT. The currency closed at 8.1875 pounds on Tuesday and has lost about 28% since the beginning of this year.

The central bank raised its inflation forecast to 12.1% from 8.9% on Wednesday and said that an expectation that inflation will record a downward trend in the second half of the year did not materialize.

The tension in relations with the United States, the dispute with France, the dispute between Turkey and Greece over maritime rights and the battles in Nagorny Karabakh have weakened the lira.

Last Thursday, the central bank kept the key interest rate at 10.25% and raised the delayed liquidity window to 14.75%, saying that a broad tightening of financial conditions had already been achieved after steps to contain inflation risks.

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