On March 19, 2025, Turkish banks sold about $ 8 billion to support the Lıra exchange rate, which suffered a significant pressure against the background of political instability in the country. About it reported Bloomberg.
“These measures were taken in response to the detention of President Recep Tayyip Erdoğan’s leading rival Istanbul Ekrem Imamoglu, who increased the fear of investors about political risks in Türkiye. Despite the intervention, the lira continued to decrease by reaching a new historical minimum against the US dollar.
Economists expressed their concerns about the stability of such interventions, taking into account the limited foreign exchange reserves of the country and the ongoing political uncertainty that may continue to pressure on lira in the coming weeks.
As of 10:16 in Greenwich (13:16 Moscow time), the cost of dollars is 38,90 pounds (compared to the previous day -12.7%). The current dollar exchange rate exceeded 41 liras. This is the lowest meaning in the history of the existence of the lyre.
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Source: Gazeta
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