Turkish lira hits lowest level since December

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Turkey's lira weakened to a new record low at 16.72 against the US dollar which is the highest level since last December.

The Euro/lira exchange rate is 17.86 which is also the highest level of the last six months.

Borsa İstanbul (İstanbul Stock Exchange - BIST) the BIST 100 Index increased by up to 1.8 percent and rose to 2,945 points.

Oil barrel price exceeds 120 dollar

With Saudi Arabia's increase in July oil sales prices, the price of oil per barrel increased above 120 dollar.

Despite the OPEC+ countries' decision to increase production by 648,000 barrels per day in both July and August, Saudi Arabia's price increase is seen as a signifier of the continuing constraint on oil supply.

Brent crude oil, after rising to 121.95 dollar, declined to 120.63 dollar but remained above 120 dollar.(AEK/TB/VK)