The Turkish experienced a record low against the US dollar, trading above 30 liras per dollar. Yesterday, at 10:25 a.m. local time, 1 dollar was equivalent to 30.01 liras. The lira's value has plummeted over 37 percent since last year, depreciating by 1.6 percent in the first 10 days of 2024.
The lira's fall sparked widespread disappointment among Turkish citizens on social media. Users lamented the devaluation of their currency, with some pointing out the difficulty of affording basic commodities.
Economists and industry experts have also weighed in on the situation. Murat Sagman, a portfolio manager, noted that a dollar was worth only 2 liras as recently as 2013. Meanwhile, Duran Bulbul, an economist, warned that the dollar exchange rate might rise to 40 liras soon due to high inflation.
Source: english.news.cn