Turkey's Lira Hits New Record Low

Turkey's Lira Hits New Record Low

Turkish lira banknotes are seen in this illustration taken in Ankara, Turkey, on June 27, 2023. The Turkish lira slid as much as 3% to a record low against the dollar on Monday, after the central bank took steps to simplify policy, while an official and bankers said the bank had stopped using its reserves to support the lira. The lira weakened as far as 26.05 against the U.S. currency, surpassing last week's all-time low of 25.74. It is down 28% so far this year, largely after the re-election in late May of President Tayyip Erdogan who has since moved to backtrack on his years of unorthodox economic policy including slashing rates despite soaring inflation. Photo by Efekan Akyuz/Depo Photos/ABACAPRESS.COM

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  • ILEA001472429
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  • 2023/6/27 00:00:00
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  • Abaca Press / Kyodo News Images
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  • Depo Photos/ABACA
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