08 June 2023; MEMO: Turkiye's lira plunged 7 per cent to a record low on Wednesday in its biggest sell-off since a historic 2021 crash, a move traders said is a "strong signal" that Ankara is moving away from state controls toward a freely traded currency, Reuters reports.
According to the report, the currency has come under increasing pressure since President Tayyip Erdogan was re-elected on 28 May.
It was trading at 23.18 against the dollar at 1500 GMT bringing its losses this year to around 20 per cent.
