Turkish currency hits historic low against U.S. dollar

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Turkish currency hits historic low against U.S. dollar

STORY: Turkish currency hits historic low against U.S. dollar SHOOTING TIME: Jan. 11, 2024 DATELINE: Jan. 12, 2024 LENGTH: 00:01:10 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. various of exchange office 3. various of Turkish Central Bank, Turkish lira 4. various of people walking on street in Istanbul, Türkiye STORYLINE: The Turkish currency hit an all-time low against the U.S. dollar on Thursday, trading at over 30 liras per dollar. One dollar was traded at 30.01 liras at 10:25 a.m. local time (0725 GMT). The Turkish currency has lost over 37 percent of its value since last year and depreciated by 1.6 percent against the dollar in the first 10 days of 2024. Murat Sagman, an economist and portfolio manager, recalled that it was only in 2013 that a dollar was worth 2 liras. Economist Duran Bulbul warned that the dollar exchange rate may move towards 40 liras soon, under such challenges as high inflation. "The greenback will first smash th

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