The Turkish earthquake reduced the value of the lira

According to the reporter of the International Economy of Fars News Agency, quoted by Reuters, in today’s transactions of the global currency market, the Turkish lira recorded a significant decrease in value and reached 18.85 liras against the dollar. The reason for the decrease in the value of the lira was the earthquake in Turkey, which has led to the destruction of many urban areas in this country.

Another factor that lowered the value of the lira on the first trading day of the week was the official announcement of the high inflation rate of 58% in this country, which was announced by the National Statistics Office of this country.

Piotr Mathis, a senior expert in Forex at Intaj Capital Institute, says: “The unfortunate event of an earthquake in the south of Turkey adds to the country’s economic problems in the remaining days and elections.” So far, more than a thousand people have died in Turkey.

On the other hand, it is said that the strengthening of the dollar is putting pressure on the currencies of the emerging markets because the publication of employment statistics in the United States has led the market to the point that the central bank of this country is likely to increase interest rates more than expected, which has been in the market for months. It will continue.

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