Business & Economy

Turkey’s central bank warns citizens

The Turkish Central Bank considered that the price of the lira in the foreign exchange markets is “far from economic foundations, and separate from reality, directing a severe warning to citizens of potential losses from volatile price conditions.”
The Turkish Central Bank referred to the wave of selling the Turkish lira by some, describing it as “unrealistic and completely separate from reality.”
With regard to market intervention, the Central Bank emphasized that it only intervenes under certain conditions.
The Turkish lira reached historical levels of decline against the dollar, recording today about 14 lira to the dollar, before resuming its decline with the closing of the market to 12.75

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