The Turkish lira hit an all-time low in today’s trading, and the Istanbul Stock Exchange also tumbled as a strong earthquake added pressure on the Turkish currency.
And by 16:05 Moscow time, the Turkish currency fixed 18.8297 lira per dollar, and before that the currency reached 18.8355 lira per dollar, which is a record low for the Turkish currency.
The main index of the Istanbul Stock Exchange Borsa Istanbul 100 Index fell by 4.30% to 4782.95 points.
The earthquake that hit Turkey today is expected to increase the economic burden on the country in the coming period.
This morning, parts of Turkey and Syria were hit by a massive earthquake that killed hundreds and injured thousands, and damaged homes and infrastructure.
Turkish President Recep Tayyip Erdogan said: “The Marash earthquake is the biggest disaster that Turkey has experienced since the 1939 Erzincan earthquake.”
Losses in the Turkish currency also came after emerging market currencies came under heavy pressure after the dollar rose last Friday following a strong US jobs report.
Source: RT + Bloomberg
