Turkish lira falls by over 45%

The exchange rate of the Turkish lira against the US dollar is falling moderately on December 3, approaching a historic low, reported from the auction data.

At trading on December 3 morning, the Turkish currency fell by 1%, then the rate was 13.79 liras per US dollar.

The national currency of Turkey has fallen in price over the year by more than 40%, and on November 23 reached a new anti-record value, falling from 11.37 to 13.21 liras per US dollar. Such a sharp decline in the cost of the lira is the strongest in the last 20 years. It happened after the regulator decided on November 18 to reduce the discount rate to 15% from 16%.

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