2021.10.23 18:26 GMT+8

Lira drops to a historical record low against the U.S. dollar

Updated 2021.10.23 18:26 GMT+8
CGTN

The Turkish lira dropped to a historic record low against the U.S. dollar on Thursday afternoon. One dollar was traded at nearly 9.5 Turkish liras after Turkey's central bank surprisingly cut its policy rate down to 16 percent. The foreign exchange office digital boards at Istanbul's Grand Bazaar were temporarily darkened, with all transactions halted. Turkey has long struggled against high inflation. The annual inflation soared to around 20 percent last month.

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