The Turkish lira fell to its lowest level in the history of the currency

The Turkish lira fell for the third time on Friday, hitting a record low in the history of the currency, according to Reuters.

The dollar rose to more than 10 lira per dollar following investors’ concerns about the country’s monetary policy after the Turkish central bank cut interest rates in September.

Investors are worried that the country’s central bank will cut bank interest rates again.

The lira has fallen more than 25 percent this year to 10 lira against the dollar. The lira was worth $ 9.92 on Thursday.

Lear has performed the worst in emerging markets, losing two-thirds of its value in the past five years. As a result, double-digit inflation has reduced the income of Turkish households

According to Fars, Erdogan For several years now, he has been strongly opposed to raising interest rates, removing anyone who opposes him in this direction, from the governor of the central bank to senior executives.

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