While the Turkish currency continued to fall against the US, the lira was trading at over 23 units per dollar in the morning. With Recep Tayyip Erdogan’s victory in last month’s presidential election, the local currency is depreciating. informs Internet edition of RBC-Investments with reference to data of the international Forex market.
The Turkish currency has been depreciating against the dollar for 12 days. At the same time, over the past year, the lira has lost more than 30% of its value against the world reserve currency. The article notes that even the suspension of government creditors selling dollars in the domestic foreign exchange market did not help stop the decline.
“The Turkish lira fell to a new low against the dollar. In the international Forex market, the dollar increased by 8 percent to 23,2743 liras. <….> Above the 23 lira mark, the dollar rate rose for the first time,” the material says.
June 5 World newspaper reportedHe said that the first statements of Turkey’s new Minister of Finance, Mehmet Şimşek, had a positive impact on financial market participants. At the same time, a new economic policy aimed at transparency and compliance with international norms can strengthen the national currency against the dollar.