The Turkish lira is at its lowest level since the “December Crisis”

The Turkish lira fell below 17.5730 once morest the US dollar, on Tuesday, its weakest level since the major currency crisis in December; It was affected by the strength of the dollar and concerns regarding high domestic inflation and low interest rates.

The lira has fallen regarding 25% this year, following falling 44% in 2021, to become one of the worst performing currencies in emerging markets.

Unconventional interest rate cuts late last year triggered a crisis that pushed inflation to nearly 80 percent.

Archyde.com