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
US President Donald Trump’s Special Envoy Steve Witkoff left Moscow empty-handed after receiving a lecture…
Foreign Minister Hakan Fidan said Israeli Prime Minister Benjamin Netanyahu and his partners “must now…
Ratko Mladić is dead. But his death has reopened one of the darkest chapters in…
It was announced by its leader, Mazloum Abdi, in Damascus on the evening of August…
The Grand Chamber of the European Court of Human Rights (ECtHR) has again found Türkiye…
Ukrainian Ambassador Naryman Dzhelialov said that they, too, were saddened by the deaths of civilians…