Yesterday, Friday, the Turkish lira recorded a new setback, falling to its lowest level against the US dollar, while the state of decline is no longer an exception in the context of a series of successive collapses, but rather the exception these days is recording a slight recovery.
Turkish reports confirmed that the lira fell to its lowest level ever, recording 10 liras against one dollar yesterday, Friday, surpassing a moral barrier, under pressure from investors’ concerns about monetary policy after the central bank began cutting the interest rate last September, according to the website. Turkish conditions.The lira, which is the worst performer among emerging market currencies this year, has lost two-thirds of its value in 5 years, reducing incomes of citizens in return for increasing inflation to double digits.
The wave of successive collapses that hit the Turkish lira is no longer an emergency because of the monetary policy of the Central Bank, a policy that it implements by order of President Recep Tayyip Erdogan, who has been fighting for years to cut interest rates, believing that they are the direct cause of the high inflation rate.
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