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Andlira From The worst coins This year’s performance, down 22 percent, due to concerns over Turkey’s dwindling reserves of Foreign exchange Real interest rates are well below zero.
The currency reached about 7.7 pounds to the dollar, losing half of its value in less than 3 years, as the decline began when a currency crisis in 2018 sparked an economic recession that ended years of prosperity under the president. Recep Tayyip Erdogan.
The Coronavirus pandemic this year caused the economy to contract for the second time in two years, which discouraged the central bank from withdrawing monetary stimulus in the midst of an economic recovery, especially in light of pressures. Erdogan For cheap borrowing costs.
In contrast to the frenzied selling in 2018, the pound has slowly retreated in recent months to unprecedented lows, even surpassing the nine-pound level against the euro this week.
The currency fell in 15 of the last seventeen sessions, and recorded 7.7 against the dollar, its lowest level ever, at 1400 GMT.
It continues to hold back though Turkish-Greek agreement On the resumption of talks related to the ongoing dispute between the two countries in Eastern MediterraneanWhich raised the possibility of imposing sanctions from the European Union on Ankara.
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Andlira From The worst coins This year’s performance, down 22 percent, due to concerns over Turkey’s dwindling reserves of Foreign exchange Real interest rates are well below zero.
The currency reached about 7.7 pounds to the dollar, losing half of its value in less than 3 years, as the decline began when a currency crisis in 2018 sparked an economic recession that ended years of prosperity under the president. Recep Tayyip Erdogan.
The Coronavirus pandemic this year caused the economy to contract for the second time in two years, which discouraged the central bank from withdrawing monetary stimulus in the midst of an economic recovery, especially in light of pressures. Erdogan For cheap borrowing costs.
In contrast to the frenzied selling in 2018, the pound has slowly retreated in recent months to unprecedented lows, even surpassing the nine-pound level against the euro this week.
The currency fell in 15 of the last seventeen sessions, and recorded 7.7 against the dollar, its lowest level ever, at 1400 GMT.
It continues to hold back though Turkish-Greek agreement On the resumption of talks related to the ongoing dispute between the two countries in Eastern MediterraneanWhich raised the possibility of imposing sanctions from the European Union on Ankara.
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