Turkish lira rate against US dollar renews anti-record again

For the second day in a row, the Turkish lira exchange rate against the US dollar renews its historical low against the background of the strengthening of the American currency after statistics on inflation in the US, Report informs referring to the auction data.

As of 10:45 (GMT+4), the US dollar rate against the Turkish lira rose to 9.93 liras per dollar, which became a new anti-record.

According to the US Department of Labor, in October, annual inflation accelerated to 6.2% instead of the expected 5.8%. This is the highest rate since November 1990. In September, the growth in consumer prices was estimated at 5.4%. Against this background, the US dollar has significantly strengthened against the yen, euro and pound.

The Central Bank of Turkey on October 21 decided to cut the discount rate to 16% from 18% amid a record fall in the Turkish lira exchange rate, after which it continued to fall.

Lira began to sharply fall in mid-October on reports of the dismissal of three high-ranking officials of the central bank by decree of Turkish President Recep Tayyip Erdogan, including two deputies head of the bank - Semih Tumen and Ugur Namik Kucuk.