The Turkish lira fell below 17.5730 against 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 about high domestic inflation and low interest rates.
The lira has fallen about 25% this year, after 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
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