Turkish lira slides again, approaching historic lows ...Kuwait

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Turkish lira slides again, approaching historic lows
source : The New Arab ( Kuwait ) () 0
The Turkish lira continued to fall against the dollar on Wednesday, putting pressure on the government of President Recep Tayyip Erdogan who insists on slashing interest rates despite soaring inflation. The lira shed two percent against the dollar and was trading at 17.1 versus the greenback in the afternoon, not far off the historic lows of more than 18 seen in December. "The pressure continues to mount on Turkish lira," said Forex.com analyst, Fawad Razaqzada, in a note to clients. "President Tayyip Erdogan has once again vowed to continue slashing interest rates despite annual inflation running at more than 70 percent," the analyst wrote, asking whether the lira mi

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