Turkish lira slightly weaker ahead of central bank rate decision

Shafaq News / The Turkish lira dropped 0.45% against the US dollar ahead of the central bank meeting regarding the interest rate, in which it is expected to be raised by 150 basis points.

The Lira weakened to 7.6250 against the dollar by 04:51 GMT bringing it losses so far this year to 23 %.

It’s expected Turkey's central bank to continuing additional tightening steps in the face of a weakening lira by raising its benchmark interest rate to 16.55% from 15% .