Turkish lira continues to get cheaper

11:31 - 24.11.2021


November 24, Fineko/abc.az. The value of the Turkish lira against the US dollar continues to decline. ABC.AZ reports that this year the lira has fallen more than by 30% against the US dollar. The reduction of the discount rate of the Central Bank of Turkey from 16% to 15% accelerated the fall of the lira. Currently, inflation in Turkey is at the level of 20%. Nevertheless, this decision of the Central Bank increases the pressure on the lira. The Turkish lira lost 11% of its value against the dollar in November, which is the worst indicator among developing countries. By Elmir Muradov
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