As of September 22, the exchange rate of the Turkish lira to 1 American dollar reached 18.38. This is a record in the history of devaluation of the Turkish national currency.
In general, the lira has depreciated against the dollar by 19% since the end of April, by 28.1% since the beginning of the year, and by 54.3% in the last year.
Last year, the lira depreciated by a total of 40%.
Let’s remind that the exchange rate of the Turkish lira against 1 US dollar crossed the 18 mark in 2021 as well. last. In order to settle the situation, Turkish President Recep Tayyip Erdogan announced a package of economic measures.
As a result of the implementation of the package of economic measures, as well as the injection of billions of dollars into the market at the expense of the reserves of the Central Bank of Turkey, it was possible to keep the exchange rate stable around 14.7 lira for only a few months.