STORY: Turkish lira falls ahead of central bank decision
DATELINE: July 19, 2023
LENGTH: 00:00:54
LOCATION: ISTANBUL, Türkiye
CATEGORY: ECONOMY
 
SHOTLIST:
1. various of Istanbul city 
2. various of exchange office in Istanbul
3. various of Türkiye's central bank
4. various of Hafize Gaye Erkan, governor of Türkiye's central bank
 
STORYLINE:
 
Turkish lira weakened more than 2 percent on Tuesday against the U.S. dollar ahead of a key rate decision by the central bank.
 
The lira stood at 26.96 against the dollar at 4:00 p.m. local time (1300 GMT) after falling to a record low of 27. The currency has lost about 30 percent of its value against the greenback this year.
 
Lira's depreciation came as the central bank is due to make a decision on its key interest rate on Thursday.
 
In June, the bank hiked the interest rates by 15 percent, the first increase in 27 months, under the central bank's new governor Hafize Gaye Erkan.
 
President Recep Tayyip Erdogan, a staunch supporter of low rates policy despite soaring inflation, accepted the set of steps taken by his new team to address the economic crisis in the country.
 
Xinhua News Agency correspondents reporting from Istanbul, Türkiye.
(XHTV)