Source: Depositphotos | Author: DeltaStock
Reading time: 4 minutes
After previously crashing to a then unfathomable record low of 13.44 to the dollar in late November, yesterday the lira plunged to a new shocking low of 17.12 to the dollar after the country’s Central Bank voted to once again cut its interest rate from 15% to 14%.
For perspective, the average mid-2017 value was just 3.5 to the dollar, yet the lira has somehow managed to lose more than 40% of its value against the U.S. dollar this year alone!