© Reuters. The Turkish lira falls to a new all-time low of 9.9 per dollar
Istanbul, Oct 19 (.) .- The Turkish lira continued to weaken against the dollar this Thursday, trading the greenback for 9.9 liras, the lowest value of the Turkish currency since the monetary reform in 2005, the Bank reported Turkish Central.
The lira has also continued to depreciate against the euro, until the euro is priced at 11.38 lira, a level very close to the minimum for the Turkish currency set on October 24 of last October of 11.44.
After a year of ups and downs, in which the Turkish currency oscillated between 8.5 and 10 units per euro, the lira returned to a pronounced downward path at the beginning of last September.
The decision taken that month by the Central Bank, to lower interest rates from 19% to 18%, below annual inflation, was one of the main factors that put downward pressure on the currency.
According to analysts, the dismissal of two deputy governors of the issuing entity has also contributed, which evidenced tensions within the institution.
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