The rate of the Turkish lira reached a historic low, exceeding 50 lira to the dollar for the first time. According to TradingView, the USD/nesa pair reached 50.02 lira on November 4, and over the past 12 months the Turkish currency has fallen 19%. As Bloomberg reports, the head of Turkey's central bank, Fatih Karahan, said in the past that the regulator is allowing the lira to weaken faster to avoid the risks of a sharp devaluation in the future. In October, the country's central bank lowered the interest rate to 36% per year due to the slowdown in inflation.

The rate of the Turkish lira reached a historic low, exceeding 50 lira to the dollar for the first time. According to TradingView, the USD/nesa pair reached 50.02 lira on November 4, and over the past 12 months the Turkish currency has fallen 19%. As Bloomberg reports, the head of Turkey's central bank, Fatih Karahan, said in the past that the regulator is allowing the lira to weaken faster to avoid the risks of a sharp devaluation in the future. In October, the country's central bank lowered the interest rate to 36% per year due to the slowdown in inflation.