The Turkish currency has lost more than two-thirds of its value in five years.

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Wednesday, September 29, 2021 - 19:10
Point Trader Group
The Turkish currency has lost more than two-thirds of its value in five years.

The Turkish lira fell to an all-time low against the US dollar on Wednesday, continuing its decline amid concerns about President Recep Tayyip Erdogan's impact on monetary policy after the central bank made a surprise interest rate cut.

The lira tumbled to levels weaker than its previous record low of 8.9995 for the dollar, recorded on Friday, before giving up some of its losses to trade at 8.9220 by 1715 GMT, bringing its losses this year to more than 16 percent.

The Turkish currency has lost more than two-thirds of its value in five years.


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