site.btaTurkish Lira Falls Again to Record Low

The depreciation against the US dollar and the euro began last week after the decision of the country's central bank to almost double its key interest rate.

At noon on Tuesday, one dollar was exchanged for 26 liras, Turkish media reported.

Last week, the lira fell for the first time to 25 lira to one dollar.

On June 22, the Central Bank of Turkiye announced an increase in the key interest rate from 8.5 to 15%. This was done as part of measures to combat the crisis in the country's economy and tighten monetary policy.

The market reaction, which led to a fall in the value of the lira, was quite expected, local experts said.