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GREEK NEWS

Turkey’s Lira Dives 15% in Second-Worst Day Ever

Turkish LiraTurkey’s lira skidded a staggering 15% on Tuesday as inflation hovers around 20% there. Credit: Sa-se/Public Domain

Turkey’s lira skidded an incredible 15% on Tuesday as the nation weathered another drop in the value in its currency, amounting to 45% over 2021.

Constituting its second-worst day in history, the lira took a nosedive after Turkish President Recep Tayyip Erdogan maintained his backing for sharp rate cuts, pledging to win his “economic war of independence” despite desperate urgings to change his economic strategy.

In its 11th straight day of losses, the lira plunged as far as 13.45 to the US dollar before recovering a bit later in the day. The lira has lost almost 26% of its value just since last week, according to a report on Tuesday from Reuters.

Grecian Delight supports Greece

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