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Further weakness in the Turkish lira against the US dollar was resolved on Monday, as investors consider the impact of geopolitical tensions and political interference on monetary policy.
The lira registered 8.3840 against the dollar, approaching a record low of 8.3850, recorded earlier today. The pound has lost about 30% of its value against the US dollar since the start of this year.
Turkey’s central bank raised the main interest rate at its September meeting and raised the ceiling on the interest band last month.
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