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The Turkish lira plummets 7% and falls again to a record low By EFE

by souhaib
November 23, 2021
in Forex
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© 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.

Legal warning: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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