The Turkish Lira tumbled to a record

Турецкая лира рекордно обвалилась

The exchange rate of the Turkish currency declines amid growing inflation and fears that the Turkish Central Bank loses its independence.

The Turkish Lira weakened to a record against the dollar amid concerns of investors in connection with the aggravation of the diplomatic rift between the United States and Turkey. The exchange rate of the Turkish currency this morning fell to 5.12 per dollar, according to Reuters on Monday 6 August.

It is noted that since the beginning of the year, the Lira lost more than 25%. The rate decreases on the background of growing inflation in the country and fears that the Turkish Central Bank loses its independence. President Recep Tayyip Erdogan calls for lower interest rates, says the Agency.

In addition, last week the US Treasury Department imposed sanctions against the Minister of justice of Turkey and Turkish Ministry of interior within the framework of the global Magnitsky act. In the United States believe that these officials are working in governmental organisations responsible for serious human rights violations in Turkey.

Relations between the two countries deteriorated due to the fact that Turkey holds the American pastor Andrew Branson, accused of terrorism and espionage.

Before it became known that Turkey is negotiating with the US on lifting the sanctions.

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