Title: Turkish Lira Hits Record Low Against Dollar

The Turkish lira has experienced a new decline against the US dollar after the Turkish central bank announced another interest rate cut. The bank decided to reduce the interest rate by 1%, bringing it to 14%, during a monetary policy committee meeting held today, Thursday, despite warnings about the impact on the lira's value. Immediately, the lira's value dropped to an all-time low, reaching 15.6 lira per dollar. Over the past three months, interest rates have been lowered as Turkish President Recep Tayyip Erdoğan believes this will curb rising prices. However, this policy has led to a currency crisis, resulting in inflation rates exceeding 21 percent.