Economy in Turkey: US dollar approaches 34 TL as euro nears 38 TL

The value of the Turkish Lira continues to decline, with the dollar approaching 34 lira and the euro nearing 38 lira.

Treasury and Finance Minister Mehmet Şimşek announced on June 28 that Turkey had been removed from the grey list, which includes countries deemed inadequate in combating the financing of terrorism and money laundering.

The Central Bank (CB) had raised the policy interest rate from 45% to 50% in March and kept the rate unchanged in April, May, June, and July. Yesterday, the CB announced that it would keep the interest rate at 50% for August as well.

The current exchange rates are as follows:

– Dollar: 33.9296

– Euro: 37.7942

– Pound Sterling: 44.2727