Lyra is rapidly falling in price
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Earlier, Erdogan said that the authorities did not intend to abandon the policy of lowering the discount rate – the lira collapsed again.
A record drop in the national currency, the lira, continues in Turkey. On Monday, December 20, the dollar rate in the country rose by 7.6% and reached 17.7 lira.
On Friday, trading closed at 16.4 lira per dollar. At the same time, at the beginning of the year, the dollar in Turkey was worth about 7.3 lira.
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The new fall in the lira is explained with yesterday’s statement by Turkish President Recep Tayyip Erdogan that the authorities do not intend to raise the interest rate.
Last week, the Central Bank of Turkey lowered one of its key rates from 15% to 14%.
Due to the fall of the national currency, the Istanbul Stock Exchange indices continue to decline. As evidenced by the trading data, the main BIST100 index is losing 7.11% from the previous close of trading.
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Last week automatic system BIST suspended trading twice stocks and futures, when quotes began to fall more than 5%
In general, during the day, most of the shares of companies that are traded on the stock exchange lost in value. Some assets have fallen in price by more than 8%.
At the same time, indices on the Istanbul Stock Exchange have been growing steadily over the past two weeks, even setting a historical record of 2,406 points.
O financial crisis in Turkey and the fall of the lyre read the material Correspondent.net.
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