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Turkish lira depreciates again

Turkish lira depreciates again
Turkish lira depreciates again

The Turkish national currency has resumed another historic low.

According to December 13 trading data, one US dollar is worth 14 liras.

Experts attribute the further depreciation of the lira to a new reduction in the discount rate expected by the country's central bank on December 16.

The dollar was worth 6.9 lira in February, after which the Turkish currency depreciated by almost 120 percent.

The lira depreciated further because the Central Bank of Turkey decided to reduce the discount rate from 16% to 15%.

In mid-October, the lira fell sharply after Turkish President Recep Tayyip Erdogan fired three senior central bank officials, including two deputy governors.

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