Turkey’s lira hits record low again
The currency’s drop followed comments made by President Erdogan about lowering interest rates.
The Turkish lira sunk to another record low Wednesday.
The lira was valued at more than 8.75 to $1 early Wednesday morning. It later stabilized and hovered at around 8.6 liras to the dollar later in the day, according to the currency data website xe.
The dip followed comments Turkish President Recep Tayyip Erdogan made to the state broadcaster TRT late Tuesday night.
“I spoke with our central bank governor today. It is imperative that we lower interest rates. For that, we need to see July or August for interest rates to start coming down,” said Erdogan.
