OREANDA-NEWS  The Turkish currency exchange rate on February 21 updated the historical minimum against the American one and reached 31 lira per US dollar.

The quotes overcame this mark at 15:30 Moscow time, and at the moment reached the level of 31.0095 lira. At the time of writing, the dollar exchange rate against the Turkish currency was 31.0020 lira (plus 0.34 percent to the closing mark of the previous trading day).

The weakening of the lira continues against the background of record inflation in Turkey. By the end of January 2024, the consumer price index reached 64.86 percent year-on-year, compared with 64.77 percent in December. At the same time, local consumers estimated annual inflation at 96 percent — 1.5 times higher than official data on consumer price growth.

In February, participants in a survey by the Central Bank of Turkey predicted a weakening of the national currency by the end of the year. According to 68 study participants from among experts and representatives of the real and financial sectors of the economy, the dollar exchange rate will be 40 lira per dollar.