Turkish currency plunges to new low against USD, signaling fresh inflation

STORY: Turkish currency plunges to new low against USD, signaling fresh inflation DATELINE: May 25, 2022 LENGTH: 00:01:55 LOCATION: ISTANBUL, Turkey CATEGORY: ECONOMY SHOTLIST: 1. various of exchange office in Istanbul, Turkey 2. various of Istanbul 3. various of exchange office in Istanbul, Turkey 4. various of clerk in exchange office counting U.S. dollars 5. various of employee in Turkey's central bank, 6. Turkey's central bank, Istiklal Street 7. various of cars moving in the city, people walking on the street 8. various of people shopping STORYLINE: The Turkish currency plunged to 16.17 on Tuesday morning against the U.S. dollar and lost over 1 percent of its value in 24 hours, signaling new price hikes in the upcoming month. After surpassing the resistance level of 16.00, one dollar stood at 16.09 Turkish liras at 3:45 p.m. local time (1245 GMT). The currency has lost almost 60 percent of value against the greenback since 2021. According to Murat Sagman, a portfolio manager and economist, the lates