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Turkish Lira shrugs off last week's gains

Category: Economy

Date: 2021-12-30T06:05:22+0000
Turkish Lira shrugs off last week's gains

Shafaq News/ Turkey's lira weakened by as much as 2% on Thursday, extending sharp losses seen a day earlier and eroding massive gains made last week, as worries about the country's monetary policy weighed on sentiment.

The lira slumped to 12.9 against the dollar on Thursday morning, compared to 12.61 upon the closure of the market on Wednesday. 

Despite last week's rebound, it has lost 37% of its value against the U.S. currency so far this year.

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