Turkish lira continues its decline

Economy & Aftermath

Istanbul, (ST) – The Turkish lira has continued its decline today as investors are concerned about the policies pursued by President Recep Tayyip Erdogan, both internal and external.

Reuters reported that the Turkish lira fell to 5,720 against the dollar, dropping 0.3 percent from yesterday’s closing level of 5,750.

The lira has fallen about 8 percent since the beginning of this year, after plunging 30 percent last year due to high levels of foreign debt to Turkey under the of the Erdogan’s careless economic policies.

Raghda Sawas

 

 

 

 

 

 

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