The Value of the Turkish Lira Against the Dollar Reaches a Historic Low

IranGate
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The Value of the Turkish Lira Against the Dollar Reaches a Historic Low

The value of the Turkish lira against the dollar has reached its lowest historical level.

Each euro was exchanged for 3,503 Turkish lira in Tuesday’s currency market transactions, and each US dollar was sold for 3,204 Turkish lira.

Thus, the exchange rate of each Turkish lira against the euro and the dollar reached 0.0029 and 0.0031 respectively, marking its lowest historical level.

Over the past year, the Turkish lira has weakened by 415% against the US dollar and by 408% against the euro.

Mehmet Şimşek, Turkey’s Minister of Finance and Treasury, emphasized the government’s commitment to reducing inflation in a message on his social media account on X, and stressed that the recent fluctuations in the currency market will be temporary.

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