The Turkish lira continues its losses against the dollar and foreign currencies

Today, Wednesday, the Turkish lira continued to deepen its losses against the dollar, after its decline to below 8,29 lira per dollar, which represented a critical psychological barrier for investors, according to German News Agency.

The agency said that according to Bloomberg news agency data, the pound fell during yesterday’s trading to below 8.1 pounds to the dollar.

The continued decline of the lira comes in light of low interest rates, and the decline of foreign investors’ interest in Turkish assets, amid anticipation of the possibility of imposing sanctions on them by the United States, the continuing conflicts in the eastern Mediterranean and the Caucasus, and the economic repercussions of the Corona pandemic.

Last Thursday, the Turkish central bank kept the main interest rate unchanged, contrary to the expectations of analysts who expected to raise it to control inflation and support the lira.

Al Jazeera