Turkish lira slides to record low of 8 against dollar

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Mon, 2020-10-26 07:52

ANKARA: Turkey’s lira on Monday set a new record low against the US dollar after the central bank refused to raise its main interest rate and tensions increased sharply with the country’s Western allies.
The lira was at 8.03 against the dollar at around 0730 GMT, suffering a loss of nearly one percent since the start of the day.
The Turkish currency also recorded its lowest level against the euro, trading near 9.52.
The lira has lost 26 percent of its value against the dollar since the start of the year.

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