Many currencies are under negative pressure because of the slowdown in the global economy and a difficult geopolitical situation in the world. The Turkish lira is no exception. It has also renewed a fresh historic low. Turkey's national currency dropped to 2,41 against the U.S. dollar. One of the key reasons is a mass exodus of investors from emerging markets. In mid-December, MSCI Emerging Markets, the global index of emerging markets, lost nearly 2% for the eighth consecutive session. In addition, a record decline in world oil prices, the collapse of the Russian ruble and talks about the slowdown of the Chinese economy have negative impact on quotes. What happened was not a surprise to economists. For example, experts from the International Monetary Fund earlier noted the vulnerability of the Turkish economy to external shocks and warned Ankara about the necessity to be ready for such pace of events. As often happens, primarily the national currency suffers. Earlier this year, the lira fell sharply against other major currencies. Central bank reacted predictably, as the Bank of Russia has acted recently, and increased all basic rates significantly. As a result, the Turkish currency had strengthened a little but since the end of autumn the fall has resumed.
