The Turkish lira’s freefall is shattering all kinds of records as President Recep Tayyip Erdogan’s intensifying campaign for lower interest rates plunges the country deeper into crisis.
The currency fell as much as 15% to a session of low 13.4539 before paring losses. The lira’s 11-day losing streak is now the longest in 20 years, and in November alone, it’s lost almost a third of its value.
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November 23, 2021 at 03:29PM
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Turkish Lira (TRY USD) Falls Past 12 Per Dollar After Erdogan Defends Low Rates - Bloomberg
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