No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
  • Tech
  • Stories
  • PSL 8
  • Business
  • National
  • World
  • Sports
  • Entertainment
  • Tech
  • Stories
  • PSL 8
No Result
View All Result
No Result
View All Result

Turkey’s lira drops to 13.15 against dollar

News Desk by News Desk
January 4, 2022
in Business, World
Reading Time: 1 min read
Turkish Lira
Share on FacebookShare on Twitter

The position of Turkey’s lira continues to weaken as the currency’s value dropped by 1.4 per cent. The rise in inflation is the primary reason for the unfavourable conditions for the investors.

Turkey is currently experiencing its highest inflation rate over the past 19 years. The rate-cutting policy has also created problems for investors. In comparison to the dollar, the lira’s value was recorded at 13.15. On Monday, the value stood at 12.96. During the last two weeks, the currency had also hit an all-time low before the government took necessary measures for the currency’s rebound.

The lira has been the worst-performing currency of emerging markets. It has declined by 44 per cent, the lowest during Recep Tayyip Erdogan’s tenure. The rise in food, drinks, and transportation rates have raised consumer prices by 36.08pc. Erdogan has said that he’s concerned about the conditions and the government would bring the value in single digits.

Related

News Desk

News Desk

Related Posts

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points
Business

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points

January 26, 2023
PSX in boorish trend for second consecutive day; benchmark KSE-100 index lost over 700 points
Business

KSE-100 index gains over 850 points as IMF ninth review inches closer

January 25, 2023
Mubadala Energy, OMV and PARCO join forces to explore opportunities in sustainable fuels
Business

Mubadala Energy, OMV and PARCO join forces to explore opportunities in sustainable fuels

January 19, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TOP NEWS

PCB to create history by naming enclosures of Bugti cricket stadium after former women's cricketers of Pakistan cricket team

PCB to create history by naming enclosures of Bugti cricket stadium after former women’s cricketers of Pakistan cricket team

by admin
January 26, 2023

Lahore: For the first time in the history of cricket any enclosure of a cricket stadium will be named after...

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points

by Zain Aijaz
January 26, 2023

The devaluation of Pakistani currency (Rupee Devaluation) has created a positive sentiment in the market at the Pakistan Stock Exchange...

ICC names Babar Azam ODI player of the year for consecutive second year

ICC names Babar Azam ODI player of the year for consecutive second year

by Zain Aijaz
January 26, 2023

The captain of the national cricket team, Babar Azam, has been declared the ICC ODI Player of the Year for...

Pakistan seeks US help for revival of IMF programme

Pakistan seeks US help for revival of IMF programme

by Zain Aijaz
January 26, 2023

Islamabad: On Wednesday, Pakistan reached out to the delegation of the United States (US) in an attempt to seek their...

The Upcut is a news platform that brings you the latest news, developments from all walks of life, from all over the world. We cover Business, news from Pakistan and rest of the world, Sports, and Entertainment. You can also read Tech Reviews and How-To Guides for simple solutions and dailylife hacks.

BUSINESS   |   NATIONAL   |   WORLD   |   SPORTS   |   ENTERTAINMENT   |   TECH   |   HOW-TO GUIDES

  • Home
  • About Us
  • Privacy Policy
  • Editorial Guidelines
  • Contact Us
  • Stories

Copyright © 2022 The Upcut. All rights reserved.

No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
  • Tech
  • Stories
  • PSL 8

Copyright © 2022 The Upcut. All rights reserved.