Turkish Lira went down again

T

The rate of the Turkish lira went down again on Friday in the midst of financial turmoil in Turkey. High inflation, with food and transport becoming more expensive for citizens, for example, and the economic concerns caused by the COVID-19 pandemic, led to a new low.

The ongoing gas dispute between Turkey and neighbouring Greece also brought pressure. The two countries have been in conflict for some time now, both looking for oil and gas in disputed waters around Crete and Cyprus.

A dollar was worth 7.4537 lira in the meantime.


By: Oliver I. Kjeldsen

Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is oliver.kjeldsen@economicinform.com

Add comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

By Leah Kunze

Recent Posts

Categories

About us

EconomicInform, EconomicInform.com is a product of EconomicInform LLC. We sincerely believe that economics is one of the most interesting and most underappreciated – in terms of getting some enjoyment out of reading the subject articles – sciences. More on that - at the link. Feel free to drop us a line.