2023-06-27 17:11:07
The Turkish lira touched a new record low of 26.10 once morest the dollar early Tuesday following officials and bankers said the central bank had stopped using its reserves to support the currency.
The lira later stabilized at 26.05, and thus it has fallen by more than 28 percent since the beginning of the year.
On the other hand, Turkish Finance Minister Mehmet Simsek said that, according to analytical central bank data, net foreign reserves recorded the largest weekly increase in history, by $8.5 billion last week.
And he continued in a tweet on Twitter: “Rational policies will continue gradually.”
Referring to efforts to obtain additional foreign resources for Turkey in order to boost reserves, Simsek said, “In addition, we will continue to make the instruments denominated in the Turkish lira attractive.”
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