Turkey removes another pandemic measure as lira hovers near all time low | THE DAILY STAR

Turkey's central bank, faced with a record-low currency and widening current account deficit, further left behind ultra-loose measures adopted during the coronavirus pandemic when it raised Monday the remuneration rate on required lira reserves.

The weakness of the lira, near an all-time low of 8 to the dollar, has complicated the economy's rebound from a sharp contraction in which pandemic-related restrictions brought tourism, exports and production to a near standstill for a time.

Surging imports such as gold expanded the current account deficit to $4.63 billion in August, data showed Monday, while unemployment remained elevated above 13 percent.