The Turkish currency fell against its US counterpart today, as investors continued to fear low interest rates and high inflation, which pushed the lira towards a record low hit last week.
The Turkish currency fell to the level of 13.9268 lira to the dollar, by 12:45 Moscow time, and the lira recorded its lowest level ever at 14 lira to the dollar last week.
The Turkish currency has lost 46% of its value against its US counterpart this year, and the new Turkish Finance and Treasury Minister Nureddin Nabati said on Thursday that the budget deficit will be less than 3.5 percent of gross domestic product this year.
Source: Reuters
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