Turkish lira depreciated at a record low level against the USD on November 11: hitting 9.91 liras against 1 dollar. After the Labor Department announced that US inflation rates hit 30 years high with 6.2, the currencies of emerging economies with high foreign debt depreciated against the USD.
“The US inflation data boosted the dollar as investors weighed a possible earlier policy tightening by the Federal Reserve. Rising U.S. rates tend to pull funds from emerging economies with high foreign debt, like that of Turkey,” Reuters reported.
The Turkish Central Bank has estimated the year and value of the USD as 9,22 liras. For further details: https://www.duvarenglish.com/turkish-lira-hits-new-record-low-nears-10-per-dollar-news-59488
President Tayyip Erdoğan's expected trip to the United States, initially scheduled for May 9th, has…
The World Bank has been on the agenda in Türkiye for two reasons nowadays. First,…
Ankara's response to Iran's airstrike against Israel on the night of April 13 was notably…
The March 31 local elections in Türkiye marked the most severe defeat for the incumbent…
As promised, Türkiye's main opposition CHP's Chairman Özgür Özel dialed President Tayyip Erdoğan on the…
Public pressure has compelled President Tayyip Erdoğan's cabinet to take action on another front. The…