The Turkish Lira has updated a record low against the dollar

Турецкая лира обновила рекордный минимум к доллару

The depreciation of the Turkish Lira is associated with the strengthening of the dollar on the background of statements of the head of the U.S. Treasury Stephen Mnuchin.

The Turkish Lira to the US dollar on Monday, 21 may, fell to a historic low, reaching at 4.55 liras per dollar. This is evidenced by the auction.

The recent depreciation of the Turkish national currency, experts associated with the strengthening of the dollar on the background of statements of the head of the U.S. Treasury Stephen Mnuchin, who confirmed the suspension of the imposition of trade duties on China. The Minister also noted the significant progress in negotiations on trade issues.

Over the past two months the Turkish Lira has repeatedly hit record lows against the dollar and the Euro. Since the beginning of the year, it depreciated against these currencies by 16.5%. Experts have linked it with the escalation of geopolitical risks in neighboring Syria, a high level of inflation and balance of payments deficit of Turkey.

Recall that in 2017, the Turkish Lira has shown the worst results among all the world’s currencies.

 

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