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Currencies: The Turkish lira down

08/06/2021
Categories: Economy/Forex

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While inflation exceeds 16%, President Erdogan, not content with having dismissed the governor of the Turkish Central Bank (TCMB) last March, called for a reduction in key rates in the next two months. This decision propels the Turkish currency which hit a historic low on Wednesday, around 8.8 dollars. The Turkish lira has lost 15% against the dollar since January 1. President Erdogan believes that lowering interest rates helps fight inflation.

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