Posted in: 08/12/2021 – 16:03
The Turkish lira fell more than 2% on Wednesday, December 8, 2021, retreating towards record lows, as President Recep Tayyip Erdogan renewed his commitment to lower interest rates.
After rising in the Tuesday session, the lira fell 2.45 percent to 13.80 against the dollar by 1420 GMT, compared to the previous close of 13.45.
The Turkish currency has lost 46 percent of its value against the dollar this year and touched an all-time low of 14.0 lira to the dollar last week.
On his return from the Qatari capital, Doha, Erdogan again defended the monetary easing policy, saying that Turkey would reduce inflation and exchange rate fluctuations through low interest rates.
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