The Turkish Lira Continues To Break Devaluation Records

In recent months, Turkey’s national currency, the lira, has been hitting devaluation records to the US dollar, euro, and pound sterling.

As of November 2, the Turkish lira fell to a new record of 8.41 lira for $1 in the Turkish foreign exchange market. The exchange rate was set at 9.7757 Turkish lira for 1 euro, as well as 10.81 Turkish lira for 1 pound.

It should be noted that these results are a historical record for the devaluation of the Turkish currency. The devaluation has been facilitated by a boycott of Turkish goods.


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