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Turkish lira depreciates again

Turkish lira depreciates again
Turkish lira depreciates again

According to trade data, the Turkish lira is still depreciating against the dollar and is reaching a historic low.

At the moment, one US dollar is worth 9.83 liras.

The Central Bank of Turkey cut the discount rate from 18% to 16% on Thursday, October 21, causing the lira to depreciate to a record level against the dollar.

The Central Bank made the decision to reduce the discount rate due to record high inflation - in September; price growth accelerated to 20%.

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