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
I am writing this fully aware that Özgür Özel may now face every conceivable obstacle…
Politics in Türkiye has seen dark days before. The country witnessed the ruling caliph-sultan collaborating…
The Court of Appeal has ruled in favor of the “absolute nullity” and “void ab…
In recent days, significant diplomatic activity has been observed in Turkish foreign policy both on…
There was an interesting meeting at the British Embassy in Ankara on the evening of…
At the SAHA defense exhibition, which opened in İstanbul on May 5, the biggest surprise…