Turkish lira drops to record low

For the second day in a row, the Turkish national currency has been hitting record lows, having depreciated against the dollar by 2.5%, to 16.19 liras per US dollar, as evidenced by the data from exchange trading.

Report informs that on Thursday, the Central Bank of Turkey decided to reduce the discount rate to 14% from 15%.

Since the beginning of the year, the Turkish currency has devalued twice, the most considerable drop in the value of the national currency in recent years. In January, the dollar traded at 7.3 liras.

The lira started trading at 15.72 per dollar Thursday. The loss in value for Thursday makes 2.64%. Lira is also falling against other currencies.