Turkish Lira hit a new all-time low of 13.9 against the USD

On Friday 3, December Turkish Lira hit a new all-time low of 13.9 against the USD, after ratings agency Fitch revised the country's outlook to negative over risks. For the second time this week, Turkey's central bank sell dollars to support the Turkish Lira. On the other hand, in the same day The Turkish Statistical Institute (TUIK) announced that the Consumer Price Index (CPI) increased by 3.51 percent in November compared to the previous month, and rose to 21.31 percent on an annual basis. According to the calculations of the Inflation Research Group (ENAG), the Consumer Price Index increased by 9.91 percent in November to 58.65 percent.