Istanbul-Sana
The Turkish lira fell again today, its lowest level since last May, after an unexpected rise in inflation in this country.
Reuters reported that the Turkish lira ended the week at 6.865 against the dollar, after falling to 6.88 in the evening trading.
Data earlier in the day showed that inflation jumped more than expected to 12.5 percent year-on-year in June, moving away from the central bank’s goal.
Last week, the bank suspended a one-year easing course in the face of a 13 percent drop per lira this year, which drained foreign exchange reserves and external liabilities.
The Turkish currency continues to deteriorate due to the deteriorating political and security conditions that the country is witnessing due to the policies of the Recep Tayyip Erdogan regime and its repressive measures that have led to a decline in tourism and investment and a decline in the country's foreign exchange earnings.