Turkish lira renews historical minimum to US dollar

The value of the Turkish lira against the US dollar on Tuesday reached a new historical low.

Report informs, citing the trading data, that at first, the dollar against the Turkish lira rose 0.14% to 27.2176 lira per dollar from the previous closing level of 27.1807 lira. The figure then briefly peaked at 27.5155 lira.

Earlier, the Central Bank of Türkiye announced that it would continue to gradually tighten monetary policy until the forecast for high inflation changes. On August 24, the regulator increased the discount rate to 25% from the previous 17.5%. Then, against the backdrop of this decision, the lira strengthened slightly, amounting to 26.6 liras per dollar.