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Two days before the elections, the Turkish lira takes a drastic hit
Written by SOT.COM.AL 26 Maj 2023
Two days before the second round of presidential elections, the Turkish lira has hit a historic low against the dollar.
The lira suffered a loss of over 1% against the US dollar, with the USD/TRY exchange rate at 20.47. This marks an unprecedented decline for the Turkish lira, falling to the bottom.
In the free market, from 11:48, the American dollar was seen hovering around the 20:00 interval, while in the Grand Bazaar course it reached 21 Turkish Lira, foreign media write.
Due to the lack of foreign exchange (FX) in the country, individuals looking to buy foreign currencies often use places like the historic Grand Bazaar in Istanbul.