Turkish currency: A new record low
2020-08-25T17:50:50+00:00
Shafaq News / The Turkish lira fell to a record low against the US dollar on Tuesday, as it fell to 7.4015.
The Turkish central bank had kept the main interest rate unchanged for the third time in a row, as expected, after the lira fell to a record low against the US dollar.
The central bank kept the interest rate at 8.25 percent after it took indirect steps recently to increase the cost of financing, slowing the lira's decline.
The interest rate remained much lower than the annual inflation rate, which recorded 11.76%, in July, but experts warn that the confidence in economic policies dropped.
