The Turkish lira descends to a new low

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The Turkish lira descends to a new low

Reuters KHALIL ASHAWI

The Turkish currency fell, during today’s trading, to a new record low, at 7.58 pounds against the dollar.

Investors’ attention is now directed towards the Turkish Central Bank meeting scheduled for September 24, and the possibility of taking more indirect monetary tightening measures, or even an explicit interest rate hike.

At 06:52 GMT, the Turkish currency was trading at 7.5775 pounds to the dollar, the lowest level ever.

The Turkish currency has fallen more than 21% against its US counterpart since the beginning of this year until now.

Source: “Reuters”

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