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.
