In the morning trade on Wednesday, June 22, 2022, the exchange rate of the Turkish lira against the Saudi rial continued to fall, and after the Turkish lira passed the Central test, the exchange rate of the lira is still under control. Bank by determining the interest rate.

The Turkish lira has depreciated against other currencies, including the dollar, the Egyptian pound and the Saudi riyal, as the Turkish government has been trying to recover the value of the lira since the Turkish central bank announced its decision. Interest rates of 14%, and Turkish President Recep Tayyip Erdogan has established the Lira Turkish support program.

The price of the Turkish lira against the Saudi Arabian rial today

The Turkish lira traded down 0.0001 points, or 0.02%, at 0.2162 Saudi riyals against the Saudi riyal on Wednesday, June 22, 2022.

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Inflation in Turkey is higher than expected

According to economic data released last week, Turkey’s inflation rose to its highest level since 1998, amid pressure from higher food and energy prices, which weakened the currency’s monetary policy. Local.

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Experts who studied Bloomberg estimate that prices will rise 74.7% in May.

According to preliminary estimates, the monthly inflation rate in Turkey was around 3%, which economists expected to be 4%.

Major CPI, excluding volatile substances such as food and energy, rose to 56 percent.

According to the Turkish Statistics Commission, consumer prices rose to an annual rate of 73.5% in May from 70% in April.