Turkish Cypriots crushed by falling Lira

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Turkish Cypriots crushed by falling Lira
 © FinancialMirror 2022
The tumbling Turkish Lira is taking the Turkish Cypriot economy along with it, as the community sees inflation send prices for essential goods through the roof.

The Lira has been breaking unwanted records. Turkey’s President Recep Tayyip Erdogan is adamant about “fighting the war on interest rates to the end”, exerting pressure on central bankers to cut interest rates.

With the Lira trading at its lowest ebb on Thursday at 13.83 to the euro, the currency has lost 22% of its value since the end of 2020 and is 94% weaker than at the end of July 2018—just before the first sharp...

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Article automatically added to our system on Sunday, November 28, 2021

Turkish Cypriots crushed by falling Lira

Contents of this article including associated images are © FinancialMirror 2022
Views & opinions expressed are those of the author and/or FinancialMirror .

Article Tags: #turkish   #cypriots   #crushed   #falling  

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