The Turkish lira continues to suffer from a continuous decline with increasing concerns about Turkish President Recep Tayyip Erdogan's new economic policy and the prospects of another interest rate cut this week.< /p>
The Turkish lira slightly reduced its decline, after it fell on Tuesday by 4%, after a bloody day in which it fell to record levels by about 7%, as low as 15 before changing Its track after the Central Bank intervened for the fourth time in two weeks to support it.
The lira touched the level of 14.4 against the dollar before regaining some of its losses and recording 14.192 by 6:05 this morning GMT, according to Reuters.
The lira has lost about 50% of its value since the beginning of 2021; Due to the significant monetary easing from the Central Bank, which included reducing interest rates by 400 basis points since last September, which was urged by Turkish President Recep Tayyip Erdogan.
