Turkish lira hits new all-time low

The exchange rate of the Turkish lira against the US dollar at the auction on August 21 fell to a historic low, 27.2 lira per dollar, Report informs referring to the TradingView platform.

In the morning, the lira fell to 27.22 (-0.7%) per dollar, then to 27.16.

Earlier it was reported that the lira was among the three weakest world currencies along with the Russian ruble and the Argentine peso.

The fall of the Turkish lira was caused by a number of factors, including economic problems, as well as the decision of the Turkish Central Bank not to use foreign exchange reserves to support the national currency and the easing of regulation in the banking sector.