The Turkish lira fell to 13.92 against the dollar, after it closed on Friday at 13.1875 lira, according to the “Reuters” agency.
Market attention was focused on the December inflation data, which is due to be released later on Monday.
Data at the weekend showed that retail prices in Istanbul rose by 9.65 percent on a monthly basis in December, reaching an annual rate of 34.18 percent.
Last December, Turkish President Recep Tayyip Erdogan said the government had eliminated what he described as an “exchange rate bubble” for the lira, by taking steps to protect Turkish currency deposits against fluctuations.
“We saw the exchange rate bubble vanish in one day with our package of measures,” Erdogan said, adding that the government had gone ahead with its economic plan to cut interest rates despite internal opposition.
Last month, the Turkish president announced raising the minimum wage in Turkey by 50 percent to 4,250 lira ($275.44) per month as part of measures aimed at alleviating the impact of the currency collapse and high inflation.
The minimum wage for 2021 was about 2825 liras per month, and its value fell against the dollar to 185 dollars, compared to up to 380 dollars at the beginning of the year due to the currency crisis, the second of its kind in Turkey within 4 years.
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