Turkish lira hits fresh record rate against US dollar

ISTANBUL, Jan 11 (KUNA) - The Turkish lira on Thursday hit a fresh record low against the US dollar as a result of inflation, with the greenback traded at 30 liras.

After years of unorthodox policies, Turkish President Recep Tayyip Erdogan changed his approach last June, and appointed a new governor of the country's central bank, raising the interest rate from 8.5 percent to 40 percent, Ihlas news agency reported.
Erdogan affirmed last month that his government is in control of the situation, and is working on steadily lowering the interest rate. (end) ta.dm.