December 14, 2021
1 min read

Turkish lira hits new low

The lira stood at 14.48 at 12.20 p.m. on Monday after losing nearly 5 per cent of its value since the close of 13.88 on December 10 …reports Asian Lite News

The Turkish currency, lira, has hit a new record low of 14.60 against one US dollar ahead of an upcoming meeting of the country’s Central Bank on the interest rate cut.

The lira stood at 14.48 at 12.20 p.m. on Monday after losing nearly 5 per cent of its value since the close of 13.88 on December 10, reports Xinhua news agency.

The currency has fallen more than 45 per cent in value against the greenback since the start of the year, and the losses expanded in the last three months as the central bank made consecutive interest rate cuts.

Following the further depreciation of the lira, the Central Bank of the Republic of Turkey interfered in the foreign exchange market by selling dollars, it announced on its website on Monday afternoon.

The bank has sold around $2 billion to hold the lira at the 14 thresholds with several interventions in the last two weeks.

ALSO READ: Turkey’s New Finance Minister Meets Business Leader

Previous Story

Cop shot dead in Rawalpindi

Next Story

‘Back to school’ for Naveen Patnaik

Latest from -Top News

Industry Hails India-UK FTA

£34 billion boost, sweeping tariff cuts and market access mark UK’s most ambitious post-Brexit trade pact; Indian sectors set for exports surge…reports Asian Lite News Business leaders from both India and the

India, UK Sign Landmark FTA

The pact is set to make imported goods like Scotch whisky, gin, luxury cars, cosmetics, and medical devices more affordable for Indian consumers….reports Asian Lite News In a landmark moment for India-UK

Farmers Win Big in India-UK FTA

There is a massive gain for rural India and exporters with zero duty on processed foods compared with up to 70 per cent earlier….reports Asian Lite News The India-UK Free Trade Agreement

Modi-Starmer Meet Ahead of FTA Signing

During the discussions, the two sides will also review the progress of the Comprehensive Strategic Partnership (CSP)…reports Asian Lite News Prime Minister Narendra Modi on Thursday called on Keir Starmer at the

Hindu Temple Vandalised in Melbourne

Confirming the incident, Victoria Police mentioned they are investigating “four linked incidents in Boronia,” including the temple and two restaurants….reports Asian Lite News In a deeply disturbing incident of racial violence, a
Go toTop

Don't Miss

Covid-19: US urges citizens to reconsider travel to India

A total of 10,603,034 child Covid-19 cases had been reported

Modi targets Rahul  in Lok Sabha speech, accuses Cong of speaking lies

PM Modi said Congress should accept the verdict of the