The Turkish lira has plunged to around 48 per US dollar, losing roughly 95% of its value since President Recep Tayyip Erdogan took office in 2014, according to Open Source Intel data cited by The Zioneer.
The Turkish lira has collapsed to approximately 48 against the US dollar, a decline of roughly 95% since President Recep Tayyip Erdogan assumed office in 2014, according to data compiled by Open Source Intel and cited by The Zioneer. The currency traded at 2.16 per dollar when Erdogan became president.
The lira has approached the 50-per-dollar threshold that analysts flagged earlier this year. As The Zioneer reported in July, Israeli news site Gplanet published an analysis questioning whether the lira could reach 50 per dollar. The Zioneer's own analysis in August noted that without the Turkish central bank's 37% interest rate, the dollar could already be at 80 lira, underscoring the fragility of the country's economy.
- DevelopingGplanet analysis raises possibility of Turkish lira reaching 50 per dollar
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- DevelopingThe Zioneer analysis: Turkey's defense alliances are 'fictitious,' economy in decline
- ConfirmedTrump: 'I am destroying the Iranian currency' — dollar at 190,000 toman
Source and signal
A single-sourced dispatch is never rated Confirmed or Strong. Its Signal strengthens only when a second, independent source corroborates it.
- Open-source intake