Economy in Turkey: After interest rate increase by TCMB, US dollar breaks new record with 25 TL
The Central Bank raised its policy rate from 8.5 percent to 15 percent on June 22nd 2023.
The decline in the Turkish Lira, which is under heavy pressure after the Central Bank of the Republic of Turkey made an interest rate increase of 650 basis points after 27 months, continues.
While the dollar exceeded 25 lira for the first time in its history, it saw 25.48 TL during the day. the euro, which exceeded 27 lira, also rose to 27.88 TL.
As of 07.40, the dollar was trading at 25.04; the euro was trading at 27.40.
