Turkish Lira went down again


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

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