Arab Finance: The Turkish lira has hit its lowest level against the US dollar in five months, Bloomberg reported on May 24^th.

The lira fell to 16.0477 per dollar on Tuesday, May 23^rd, as monetary policy is still weak to contain inflation.

Turkey’s annual consumer price index rose to almost 70% in April.

It is worth noting that the current account deficit is weighing on the Turkish lira, affecting the country’s foreign currency reserve.