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Turkey’s currency plummets to historic low The lira’s drop coincided with changes at Turkey’s Central Bank, political tensions and a legal controversy involving a mobster. Customers wait in front of a currency exchange agency as a screen shows rates near The Grand Bazaar in Istanbul on March 22, 2021. - OZAN KOSE/AFP via Getty Images
May 28, 2021
Turkey’s currency fell to a record low Friday amid political controversy and more changes at the Central Bank.
The Turkish currency dropped to 8.61 liras to the US dollar at one point Friday the lowest in 10 years, according to the currency data website XE, which had the lira slightly strengthening to 8.57 to the dollar later in the day.