Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian media: Three Palestinians were killed after being targeted by Israeli drone fire in the al-Shujaiya neighborhood east of Gaza City
Nicolas Maduro: The Palestinian cause is the most sacred cause for humanity, and we propose sending teams of builders, farmers, and doctors to Gaza to help the people
Al Mayadeen's correspondent in Lebanon: IOF infiltrate Khallet Wardeh towards the municipality in the town of Aita al-Shaab, south of Lebanon.
Leaders of the United States, Egypt, Qatar, and Turkey sign a ceasefire agreement in Gaza.
Trump arrives in Sharm el-Sheikh
Israeli PM's office: PM informed Trump he would not attend Sharm el-Sheikh Summit on account of Jewish holidays.
Israeli media: Netanyahu makes last-minute decision to cancel trip to Sharm el-Sheikh.
Al Mayadeen's correspondent: Large crowds gather in Khan Younis to welcome the liberated Palestinian detainees, waving flags of Hamas and Islamic Jihad in celebration
Buses of released prisoners arrive in Ramallah
Israeli media: Netanyahu gifts Trump a "Golden Dove".

Turkish Lira Nears Record Low after Interest Rates Decreased

  • By Al Mayadeen
  • Source: Agencies
  • 24 Sep 2021 16:34
2 Min Read

One day after Turkey's Central Bank's decision to lower interest rates, the Turkish Lira is approaching its record low levels.

  • x
  • A currency exchange office (archive)
    A currency exchange office (Archive)

The Turkish lira nears record low on Friday, with foreign investors moving away from the country. However, some local bargain hunting mitigated the losses after Turkey's Central Bank cut its policy rate and gave no hints as to how low the rates might go.

The lira, which has been experiencing sharp swings during the past few years, touched 8.86 to one dollar, near its low of 8.88, which it had reached in June.

Related News

Erdogan seeks global backing for Gaza reconstruction after ceasefire

Trump suggests Erdogan could help broker peace in Russia-Ukraine war

The Central Bank's cut put the interest rates below the annual inflation rate, which was 19.3% in August. This means that the stimulus that has been long sought by President Erdogan has been delivered, reinforcing analysts' worries over political interference. 

The Central Bank still hasn't provided much guidance on the future path of this policy, yet large finance firms, such as Societe Generale, Barclays, JPMorgan, and Goldman Sachs all said they expect more rate cuts in the coming months. 

The lira's fate is now largely in the hands of local businesses, investors, and savers after foreign funds have now fled from Turkey.

Almost a week ago, the Turkish lira lost about 2.5% of its value, driven by expectations that the US monetary stimulus would be reduced sooner than expected.

  • Turkey
  • Central Bank
  • Turkish lira

Most Read

Palestinian journalist Saleh al-Jaafarawi in an undated image in Gaza, occupied Palestine (Social media)

Gaza Palestinian journalist Saleh al-Jafarawi killed by collaborators

  • Politics
  • 12 Oct 2025
Taylor Swift: The Life of a Showgirl

The Life of a No-Girl: The one verse Taylor Swift refuses to sing

  • Arts and Culture
  • 8 Oct 2025
Iran strikes secret Israeli-US bunker under Tel Aviv high-rise

Tel Aviv high-rise struck by Iran hid Site 81, secret US-Israeli base

  • Politics
  • Today
drop site

New report details extensive Israeli arson in Gaza after ceasefire

  • Politics
  • 13 Oct 2025

Coverage

All
War on Gaza

Read Next

All
US media rejects Pentagon rules limiting access to official info
Politics

US media reject Pentagon rules limiting access to official info

Australia open to sending troops to Middle East post-ceasefire
Politics

Australia open to sending troops to Middle East post-ceasefire

Arab journalists in US say they're being silenced after Gaza coverage
Politics

MENA journalists in US report heightened scrutiny since Gaza war began

Maduro offers Gaza aid and calls for real justice after Sharm El-Sheik.
Latin America

Maduro offers Gaza aid, calls for real justice after Sharm El-Sheikh

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS