Istanbul: On Dec 13, it emerged that Turkey’s lira crashed as much as 7% to a record near 15 to the dollar. President Tayyip Erdogan’s precarious new economic policy and prospects of another rate cut are believed to be the reason. In two weeks, the central bank has disclosed its fourth market intervention. At its low watermark, the currency’s worth has left just half of its value at the onset of the year.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

PM Khan Calls Putin for bilateral ties

According to a statement published by the PM office, PM Khan called…

Finland’s centre-right National Coalition Party claims victory

Finland’s centre-right opposition National Coalition Party leader Petteri Orpo has claimed victory…

Rocket strikes on Israeli city of Netivot

A flat in the southern Israeli city of Netivot was hit by…