Skip to main content

Turkey’s currency plummets to historic low

The lira’s drop coincided with changes at Turkey’s Central Bank, political tensions and a legal controversy involving a mobster.
Turkish money exchange

Turkey’s currency fell to a record low Friday amid political controversy and more changes at the Central Bank. 

The Turkish currency dropped to 8.61 liras to the US dollar at one point Friday — the lowest in 10 years, according to the currency data website XE, which had the lira slightly strengthening to 8.57 to the dollar later in the day.

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.

Subscribe

Only $100 per year.