PodcastTurkish Lira further weakens against dollar
The Turkish Lira has further weakened against the dollar, hitting its weakest level since a currency crisis in August 2018. The lira weakened to 7 against the dollar on May 4, after a long stand-off around that level.
Duvar English
Turkey's Central Bank lowers inflation forecast for 2020 amid COVID-19The Turkish Lira has further weakened against the dollar, hitting its weakest level since a currency crisis in August 2018.
The lira weakened to 7 against the dollar on May 4, after a long stand-off around that level.
The lira’s slide came after Turkey’s central bank governor, Murat Uysal, announced a new, lower inflation forecast during a press conference on April 30.
The year-end inflation forecast was reduced from 8.2 percent to 7.4 percent, while the 2021 inflation projection was unchanged at 5.4 percent.
Uysal also told reporters that the country was not in talks with the IMF for funding help, despite the strain the coronavirus (COVID-19) pandemic was putting on Turkey’s public finances.