© Reuters. The Turkish lira plummets 7% and falls again to a record low
Istanbul, Nov 22 (.) .- The Turkish currency, the lira, suffered one of its worst collapses in history this Tuesday, losing 7% of its value against the euro in just three hours, accentuating the already sharp decline that It occurred on Monday apparently in reaction to statements by the President of Turkey, Recep Tayyip Erdogan.
When the Turkish markets opened at 6:00 GMT, the lira was trading at 12.85 units per euro and 11.4 per dollar, the historical lows at which it had remained at the close of the markets yesterday, while Erdogan reiterated his fierce defense of the declines of interest rates.
Three hours later, the Turkish currency was changed to 13.8 units per euro and 12.2 per dollar, with a loss of about 7% compared to the beginning of the session.
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