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Reuters
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The Turkish lira fell to an all-time low against the US dollar on Wednesday, continuing its decline, after the central bank announced a sudden cut in interest rates.
The pound fell below its previous all-time high of 8.9995 per dollar, which it recorded on Friday, before relinquishing some of its losses to trade at 8.9220 at 5:15 p.m. GMT, recording its losses this year by more than 16%.
The Turkish currency has also lost more than two-thirds of its value in five years.
Source: “Reuters”
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