Turkish Currency Hits Historical Low: Continues to Devalue

The Turkish currency has once again hit a historical low, exceeding the threshold of 14 liras per dollar. This is reported by Prime, citing trading data.

It is noted that currency trading today started at a rate of 13.87 liras per dollar. As of 09:40 Moscow time (10:40 Yerevan time), the exchange rate has reached a historic low of 14.1 liras per dollar. Analysts attribute the lira's decline to an expected interest rate cut by the Central Bank of Turkey on December 16.

It is worth mentioning that over the past year, the Turkish currency has depreciated by approximately 40%.