Lira

Turkish lira collapsed by another 5 percent against the dollar on Wednesday, reflecting investors' concerns about President Recep Tayyip Erdogan's controversial monetary policy.

The Turkish central bank is under pressure to hold an extraordinary meeting to raise interest rates ahead of the planned June 7 meeting, but it is undesirable, as Erdogan wants low interest rates.

During hir visit in London, the Turkish President Recep Tayyip Erdoğan said that he will take control of the monetary and economic policy if he win the election. Turkish currency was again influenced by his comments, declining against the dollar.

The Turkish Lira slightly recovered a plunge to a record low after the Central Bank said it was monitoring markets and would take necessary steps.

Turkey's record-low lira was among a host of heavyweight emerging market currencies pinned to the canvas on May 16 after the dollar put on another show of strength.

The Central Bank introduced additional liquidity measures to shore up the Turkish Lira on May 9 after the currency slid to a record low against the dollar.

Turkey's lira sank to fresh record lows against the dollar and euro on April 11 as investor concerns deepened about the outlook for monetary policy and inflation — and about political tension in Russia and Syria. 

The Russian rouble and the Turkish Lira became the worst performing emerging market currencies on April 10, with the lira again hitting record lows.

The Turkish Lira has once again weakened to record lows against the dollar and the euro as investor concerns about an overheating economy and geopolitical risks mounted.

The Turkish Lira fell to yet another historic low against the United States dollar on the morning of April 6, amid worries over a trade war and a series of geopolitical and economic risks. 

The Turkish Lira dropped past 4 per U.S. dollar for the second time in its history early on March 28, coming closer to record levels. The lira plunged to 4.0012 against the U.S. dollar, falling 0.45 percent in the early hours of the trading hours in Turkey, according to Doğan News Agency.