Turkish Lira Hits Record Low Against U.S. Dollar
August 13 2020 - 6:01AM
RTTF2
The Turkish lira dropped against the U.S. dollar in the European
session on Thursday, after Turkey's Finance Minister Berat Albayrak
remarked that the currency's free fall is likely to have limited
impact on inflation.
In an interview with broadcaster CNN Turk on Wednesday, Albayrak
said that Turkey's gross domestic product will show between 1
percent growth and 2 percent contraction this year.
"The exchange rate goes down, it goes up," Albayrak said. "What
is important is not the exchange rate, but whether it is
competitive".
The lira dipped to a record low of 7.3577 against the greenback
from yesterday's closing value of 7.3254.
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