The Turkish lira touches its lowest level in a week

Ankara-Sana

Today, the Turkish lira touched its lowest level against the US dollar in a week due to concerns about monetary policy after the Turkish President Recep Tayyip Erdogan announced that interest rates would decrease.

Reuters reported that the lira reached 8.55 against the dollar, falling from a close of 8.48 yesterday, and earlier touched 8.5 against the dollar, its lowest level in a week.

The currency has lost nearly 12 percent since the beginning of this year.

The deterioration of the Turkish currency continues due to the deteriorating political and economic conditions in the country as a result of Erdogan's policies and repressive measures, which led to a decline in tourism and investments and a decrease in the country's foreign exchange earnings.