Turkish lira hits record low after bank holds rates

The lira fell to a record low of 2.885 against the dollar on Tuesday, following the Turkish central bank’s decision to leave its main interest rate at 7.5 percent, CNBC reports. The lira has lost nearly 25 percent of its value since the beginning of the year, and it has continued to fall in the aftermath of Turkey’s June 7 election as political turmoil and violence have increased.


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