Turkish lira’s rapid depreciation does not stop ever since the US decision to suspend, at its diplomatic missions in Turkey, the acceptance of nonimmigrant visa applications from Turkish citizens.

In the case when the Turkish national currency was very stable and was even increasing in value against the American dollar (USD) before this visa crisis with the US, it is rapidly devaluating from the time when the crisis began, according to Cumhuriyet (Republic) daily of Turkey.

Accordingly, USD 1 has gone up from 3.4 liras to 3.77 liras, and the Turkish financial market expects the national currency to decrease even more in value.