Turkish currency rate exceeds 25 lira per dollar

The cost of the Turkish lira against the dollar has updated its historical low and for the first time has overcome the psychological mark of 25 lira per dollar.

Report informs via Turkish media that the national currency exchange rate is 25.48 lira per dollar.

On Thursday, the Turkish Central Bank raised its key rate for the first time in more than two years to 15% from 8.5%, while analysts had expected it at 21%. The last time the Turkish Central Bank raised the key rate in March 2021 to 19% from 17%.