Turkey: Lira Plunges to Five-Month Low Against the US Dollar

Published May 24th, 2022 - 07:18 GMT
Turkey: Lira Plunges to Five-Month Low Against the US Dollar
The lira plunged as much as 0.7% to 16.0477 per dollar. (Shutterstock)

Turkey's lira plummeted to a five-month low against the US dollar on Tuesday, bringing its losses this year to 18% as monetary policy remains loose to curb the surging inflation. 

The lira plunged as much as 0.7% to 16.0477 per dollar, the lowest level since the 2021 currency crisis where the nation's currency hit an all-time low of 18.3633 on December 20.


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