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Shortly after transactions began in the Asian markets earlier today (August 26), Turkish Lira (TRY) suffered a rapid depreciation against the US Dollar. Only seconds later, the exchange rate of US Dollar hit 6.39 TRY.
After suffering a value loss of over 15 percent, the exchange rate of US Dollar fell back to the level of 5.80 TRY. As of 9.06 a.m., 1 US Dollar was 5.83 TRY. US Dollar/TRY is traded at 5.80 TRY in Asia and the daily loss of value in TRY against the US dollar is below 1 percent. (TP/SD)
