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Turkish currency breaks anti-record against USD

13 February 2025 10:54 (UTC +04:00)

The Turkish lira has renewed its anti-record against the US dollar, APA-Economics reports.

According to the report, on February 13, in the early hours, the Turkish currency tested the level of TL 36.1250 against the dollar. At 10:00 AM Baku time, it slightly increased, trading at 36.1155 TL. Overall, the Turkish lira has lost 0.04% value against the dollar today, and 1% over the past week.

In parallel, the lira has also depreciated to a record low against the manat this year. According to the Central Bank of Azerbaijan’s exchange rate on February 13, 1 TL has decreased to 0.0471 AZN.

Türkiye's Treasury and Finance Minister Mehmet Şimşek, in his recent statement, noted that the nominal weakening of the lira due to high inflation is understandable. However, when considering the real effective exchange rate, the lira has actually performed well among currencies, as disinflation programs have created conditions for some appreciation, and this tendency has been observed in the lira as well.