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01:08
Turkish lira hits record low against USD
STORY: Turkish lira hits record low against USD
SHOOTING TIME: Recent footage
DATELINE: Aug. 24, 2024
LENGTH: 00:01:08
LOCATION: ISTANBUL, Türkiye
CATEGORY: ECONOMY
SHOTLIST:
1. various of Istanbul city in Türkiye
2. various of the exchange offices in Istanbul
3. various of Türkiye's central bank
STORYLINE:
The Turkish lira plummeted to a historic low against the U.S. dollar on Friday, with the exchange rate exceeding 34 liras per dollar amid enduringly high inflation.
One dollar hit 34.05 liras on Friday morning and then stood at 34 liras at noon.
The Turkish lira has depreciated by approximately 15.2 percent against the greenback since January, with a 2.8 percent loss in its value since the beginning of this month.
In response to the economic pressure, Türkiye's central bank maintained its policy rate at 50 percent on Tuesday, marking the fifth consecutive month of unchanged rates in line with market expectations.
Meanwhile, the country's annual inflation rate cooled to 61.78 percent in July, compared to 71.6 percent in June, according to the Turkish Statistical Institute.
Xinhua News Agency correspondents reporting from Istanbul, Türkiye.
(XHTV)
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