Turkey’s lira hits record low again

The currency’s drop followed comments made by President Erdogan about lowering interest rates.
A picture taken on Aug. 14, 2018, shows the logo of Turkey's Central Bank (TCMB) at the entrance of the bank's headquarters in Ankara, Turkey.
A picture taken on Aug. 14, 2018, shows the logo of Turkey's Central Bank (TCMB) at the entrance of the bank's headquarters in Ankara, Turkey. - ADEM ALTAN/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

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.

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