Turkish lira hits record low, Central Bank holds interest rates
2024-07-12 13:20:05 - From: Shafaq News
Shafaq News/ On Friday, the Turkish currency lira hit a fresh record low against the U.S. dollar, despite recent months of relative stability following years of decline.
At 0656 GMT, the currency fell 0.5% to 32.9945 against the dollar, marking an increase from its earlier unprecedented low despite being lower than the closing level on Thursday.
In 2024, the currency has depreciated by over 11% against the dollar, and over 40% since 2023 began.
At its last meeting, the Turkish Central Bank decided to hold interest rates unchanged at 50 percent for the second consecutive month.
