Turkish Lira Sets Another Record Low

The value of the Turkish lira continues to plummet against the dollar, setting yet another record low. The lira has depreciated to a historic low, reaching 27 lira per dollar.

Earlier, the Central Bank of Turkey raised the key interest rate from 8.5% to 15%, promising to implement a tighter monetary policy and curb inflation. However, following this announcement, the Turkish lira noticeably lost value, trading at around 26 lira per dollar.