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Economics

Turkish lira falls to record low

The national currency's exchange rate has exceeded 50 lira per dollar for the first time

The Turkish lira has dropped to a new historical low. For the first time, the exchange rate of the national currency crossed the mark of 50 lira per dollar.

According to the publication Ekonomim, this is due to high inflation and the strengthening of the US dollar in global markets. At the end of October, annual inflation in Turkey stood at 29%.

Analysts do not rule out further weakening of the currency and allow that the dollar could rise to 55 lira. At the same time, experts do not predict sharp and uncontrollable exchange rate surges in the near future.

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