The Libyan Address Journal
Turkey’s Lira (TRY) continues to take a beating on worsening fiscal balances.
The local unit has dropped to 6.9366 per US dollar at press time to hit the lowest since August 2018. Back then, Turkey was facing a debt crisis and currency crisis due to Lira’s slide to a record low of 7.0831.
Lira has declined by 3.8% so far this week and is reporting a 5% loss on a month-to-date basis. The currency is also facing the pull of gravity for the seventh straight month, having topped out near 5.50 per US dollar in August last year.