Turkish lira sinks to record low against USD as presidential poll heads to runoff

STORY: Turkish lira sinks to record low against USD as presidential poll heads to runoff DATELINE: May 17, 2023 LENGTH: 00:01:56 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of Turkish citizens vote in the ballot boxes 3. various of people shopping in supermarket 4. Borsa Istanbul Stock Exchange STORYLINE: The Turkish lira hit a record low of 19.70 against the U.S. dollar on Tuesday as the presidential election is heading to a runoff on May 28 after Sunday's inconclusive vote. In the open market, the exchange rate went as high as 22 liras per dollar on Monday before falling back to 20.25 on Tuesday. Turkish people have long been suffering high living costs triggered by a soaring inflation rate, which hit a 24-year high of 85.5 percent in October of last year before falling back to 43.68 percent in April. Turkish President Recep Tayyip Erdogan has been employing unorthodox policies such as lowering interest rates, claiming such policies

• Product Code
• ILEA001303971

• Registered date
• 2023/5/17 00:00:00

• Credit
• Xinhua / Kyodo News Images

• Media source
• Xinhua News Agency.All Rights Reserved

• Media size
• 1920 × 1080 pixel

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• 116.33(MB)*

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