Turkish lira hits record low against dollar

Turkish lira hits record low against dollar
# 30 May 2023 09:51 (UTC +04:00)

Türkiye's lira hit a new low against the dollar after President Recep Tayyip Erdoğan's victory in the country’s election over the weekend, APA-Economics reports citing Financial Times.

The lira weakened to 20.24. The lira has slumped more than 7 per cent so far this year.

Morgan Stanley analysts said Türkiye's currency risked falling further “without a change in the macro policy framework to prioritise disinflation and to adopt market-friendly policies”.

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THE OPERATION IS BEING PERFORMED