The exchange rate of the Turkish lira against the US dollar continues to update historical lows, reaching a minimum of 9.76 lira per dollar, according to the portal. Investing.com Russia Monday, October 25th.
The lira has dropped 2.8% since Friday, the newspaper said. The Finansial Times…
On October 21, the Central Bank of Turkey decided to reduce the discount rate to 16% from 18% amid a record fall in the lira exchange rate, after which the Turkish national currency accelerated its decline, he wrote Bloomberg…
The fall in the lira exchange rate was also facilitated by the news of the dismissal of three high-ranking officials of the Central Bank of Turkey, including two deputy heads of the regulator – Ugur Namyk Kuchuk and Semikh Tyumen. In March, the value of the lira also fell by more than 10% against the dollar against the background of the resignation of the head of the Central Bank of Turkey Naji Agbala. Not long before that, the head of the regulator raised the discount rate from 17% to 19%. Turkish President Recep Tayyip Erdogan opposed this measure. The lira has lost nearly a quarter of its value since early 2021, according to the FT, as Erdogan pressured the central bank to continue lowering its base rate despite rising inflation.
Today’s fluctuations in the exchange rate of the Turkish national currency were also negatively affected by the order of President Erdogan of the Turkish Foreign Ministry on October 23 to declare ambassadors of 10 countries persona non grata who called for the release of human rights activist Osman Kavala, writes FT.
Earlier, the embassies of the USA, Canada, Germany, France, Finland, Denmark, the Netherlands, Norway, Sweden and New Zealand made a call to release the human rights defender. After that, the Turkish Foreign Ministry confirmed the summons of the ambassadors of the listed countries. States called for compliance with the Vienna Convention on Diplomatic Relations.
Kavala is a Turkish human rights activist, founder of the cultural foundation Anadolu Kültür AŞ, which supports, among other things, projects of religious and ethnic minorities, including reconciliation between the Armenian and Turkish populations, and a peaceful solution to the Kurdish issue.
In February 2020, a Turkish court acquitted a human rights defender on charges of involvement in an attempted overthrow of the government in the 2013 Istanbul Gezi Park protests. However, on the same day, the Istanbul prosecutor’s office issued a new arrest warrant. Kavala was facing new charges, this time with involvement in an attempted coup d’etat in Turkey in July 2016.
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