Turkey’s Lira Struggles As Rates Fly

Posted on 08/24/2023

Turkey has amazed the world with a rise in interest rates to 25% as inflation hit 48% last month. Despite the Central Bank of the Republic of Turkey (CBRT) efforts in the country, the Turkish lira has continued its plunge. In 2019, a U.S. dollar could exchange them for 5 lira. Today, the holder of…

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