Turkish lira drops to new record low against dollar - Breaking The News

Turkish lira drops to new record low against dollar

26 September

1 min read

The Turkish lira dropped to a fresh record low against the United States dollar on Monday, extending losses prompted by the Turkish Central Bank's latest rate cut.

The central bank lowered rates for the second consecutive month, cutting its benchmark one-week repo rate from 13% to 12% despite annual inflation soaring to 80.10% in August.

The dollar rose 0.18% against the lira to go for 18.45092 at 11:15 am CET. The Turkish currency has lost 28% compared to the greenback since the start of the year.

currencies lira

Related Stocks

USD/TRY

Turkey: Doing everything to stabilize markets

19 March

Turkish Minister Of Treasury And Finance Mehmet Simsek said on Wednesday the government is "doing everything necessary for the healthy functioning of the markets" after the Istanbul stock exchange plummeted. The Turkish lira sank to its lowest-ever point against the euro and the dollar amid a political crisis after Istanbul Mayor Ekrem Imamoglu was arrested in a corruption investigation. "The economic program we are implementing continues with...

Turkish lira at record lows against dollar, euro

19 March

The Turkish lira slid on Wednesday landing at all-time lows against the United States dollar and the euro amid political turmoil in the country. Earlier, Turkish police detained Istanbul Mayor Ekrem Imamoglu over a corruption probe. The arrest comes a few days ahead of his being named the Republican People's Party's (CHP) candidate for the 2028 presidential election. It also comes only a day after the mayor's diploma was annulled by Istanbul University, a move...

Dollar nears 6-week low against yen

27 January

The dollar sank compared to the yen on Monday, reaching a low unseen since December 17. On Friday, the Bank of Japan raised interest rates to 0.5%, taking them to their highest level in 17 years. The country's business activity improved slightly in January, although manufacturing lagged behind services. Meanwhile, the dollar has been unsettled by the start of United States President Donald Trump's first week in office and his threats of widespread tariffs,...

Euro at highest against dollar since December 17

24 January

The euro climbed against the dollar on Friday, hitting a five-week high following the latest economic data. The Eurozone's private sector returned to growth in January, according to a preliminary PMI report. Although manufacturing remains in contraction, it is moving toward a recovery, led by an unexpected jump in German business activity.The euro traded 0.90% higher against the dollar and sold for 1.05125 at 10:23 am CET. It also gained 0.27% against the...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.