Turkish Lira suffers loss against major currencies

The Turkish Lira has suffered some loss against the US Dollars and other major currencies after selling for 3.86TL/USD on Tuesday, it's highest level since November 2017.

Also, the TL/Euros sold at 4.80, a record in it's own right while the TL/Pounds Sterling sold at between 5,3959-5,3979 on Tuesday.

As at Wednesday morning, the dollar exchange rate was 3.8696 TL while the Euro on the other hand exceeded yesterday's level selling at a record 4.8039."

This recent trend might be due to several reasons said analysts.

According to analysts, "There is a slight negative atmosphere in developing markets. However, when we look at TL markets, we see that this negativity reflects more strongly. This is becoming a trend every day. Adding that there is no single reason for this instability.