💸 Turkish lira continue to fall after Erdogan’s reelection

The Turkish lira slumped to yet another all-time low Tuesday, extending its slide after the re-election of incumbent fascist President Recep Tayyip Erdogan. The currency was last trading at 20.29 against the greenback at around 11 a.m. Tuesday morning local time, surpassing Monday’s lows. Earlier in the session, it had briefly weakened to 20.2 levels to the dollar. The lira has lost more than 7% of its value since the start of the year.

“There’s a widespread expectation that [the lira] is going to weaken in coming months,” Standard Chartered Bank’s Steven Englander told. He added that Turkey has “a lot of economic issues” that will intensify following Erdogan’s return to office.

As this moment, the lira went to 24.20 TL

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https://www.nuceciwan122.xyz/en/2023/06/turkish-lira-continue-to-fall-after-erdogans-reelection/

via @DifusionKurdistan en Telegram

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