Turkish lira falls to a new record low
Turkish lira falls to a new record low
2026-11-09
Shafaq News – Ankara
The Turkish lira fell against the US dollar on Monday, hitting one of its lowest levels ever, as pressure on the local currency continued amid rising inflation rates.
Exchange market data showed the dollar rising to about 50.18 Turkish lira, compared to about 50.14 lira at the close of trading last Friday, after it touched a level of 50.19 lira during trading.
The Turkish currency has lost about 19% of its value against the dollar over the past twelve months, continuing a downward trend that pushed the exchange rate above the 50 lira to dollar mark this November.
This decline comes after the Turkish central bank cut its main interest rate by one percentage point to 36% last October, at a time when official data showed that the annual inflation rate rose to 29.77% during the same month, compared to 29.73% in the previous September.
shafaq.com
