The Turkish currency has once again renewed the record of falling against the dollar and fell on Tuesday to 10.16 lira per $ 1.

As evidenced by the data of foreign exchange trading, which broadcasts the television channel NTV, this is the largest drop in the national currency over the past five years.

The level of 10.16 lira per $ 1 was reached during trading this morning. At the moment, according to the current data of the Central Bank of Turkey, they give 10.01 lira per dollar, but the exchange rate will change during the day.

The border of 10 lira per unit of American currency is psychologically important for the residents of Turkey. This depreciation of the lira also correlates with rising inflation rates. In October, the growth rate of consumer prices increased by 2.39% compared to September. And in annual terms at the end of October, compared with the same period last year, prices increased by 19.89%.

The authorities are trying to curb the collapse of the national currency and the rise in inflation, including by lowering interest rates and some measures to support business. In the end, however, such a policy does not help to significantly stop the rise in prices for consumers.

Moreover, in October, the state budget was closed with a deficit of 17 billion lira ($ 1.7 billion at the current exchange rate), and for 10 months of 2021, the budget exceeded 78 billion lira ($ 7.8 billion).