Record collapse of Turkish Lyra

The Turkish Lyra course on Thursday updated the historical minimum – the dollar jumped to 18.38 lira, testify to trading data.

As of 12.56 Baku time, the dollar cited up to 18.36 lira from the previous closing level of 18.32 lira per dollar. Earlier, during the trading, the dollar rate was already rising above 18.38 lira per dollar, which is a historical maximum.

Such dynamics is explained by an increase in the basic interest rate by the US Federal Reserve by 75 Basic points.