Today, the exchange rate of the Turkish lira against the Saudi riyal rose in the morning trade on June 20, 2022, after the Turkish lira passed the central bank test, the exchange rate of the lira is still under control. 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
Today, Monday, June 20, 2022, the Turkish lira rose against the Saudi riyal to record a price of 0.2168 Saudi riyals per lira, and each Saudi riyal recorded 4.6209 Turkish lira.
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.
According to the Turkish Statistics Commission, consumer prices rose to an annual rate of 73.5% in May from 70% in April.
According to a Bloomberg poll, prices are expected to 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.
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