Turkish currency comes under renewed pressure
Published: Monday, 10 August 2020
The exchange rate for the Turkish lira has touched record lows against the US dollar, increasing the revenues for the Middle Eastern country’s mineral exporters.
According to currency trading site Oanda.com, the average
bid price on August 7 hit a record low of 7.25 lira to $1,
while the country’s central bank moved to reassure
investors that the economy was recovering from the effects of
the Covid-19 pandemic.