The Turkish lira gave up another 2% today, on Tuesday July 18, to a record low against the dollar on concerns that the central bank may raise interest rates less than previously expected this week.
July 18, 2023
2193
Turkey's lira (USDTRY) dropped to near a 2-month low, e-bike the country’s sovereign dollar bonds tumbled and the cost of insuring, CDS, exposure to the country's debt spiked as the presidential election appeared headed for a runoff with incumbent president Tayyip Erdogan in the lead.
May 15, 2023
2326
Turkish lira remains weaker against USD after the Turkish central bank decided to hold its key rate at 14%.
February 18, 2022
3056
On Thursday, the Turkish lira fell to an all-time low of around 11 per dollar, almost 9% below Friday's close, before reclaiming some losses ahead of a central bank meeting, which is expected to keep on with further rate cuts, despite currency devaluation and inflation of around 20%.
November 18, 2021
2980
The governor of the central bank of Turkey, apparently submitting to the orders of President Recep Tayyip Erdogan, who has unorthodox monetary views (if inflation gets higher, he wants the rate to be cut, according to his statements, while the classic economic theory says the opposite) cut the interest rate more than expected despite rising inflationary pressures and the continuing demise of Lira to an all-time low.
October 21, 2021
3112
August 4, 2021
4053
August 6, 2021
4050
July 2, 2021
4004
